<SEC-DOCUMENT>0001193125-16-551638.txt : 20160422
<SEC-HEADER>0001193125-16-551638.hdr.sgml : 20160422
<ACCEPTANCE-DATETIME>20160422115753
ACCESSION NUMBER:		0001193125-16-551638
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		91
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160422
DATE AS OF CHANGE:		20160422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			StealthGas Inc.
		CENTRAL INDEX KEY:			0001328919
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36797
		FILM NUMBER:		161585974

	BUSINESS ADDRESS:	
		STREET 1:		331 KIFISSIAS AVENUE
		STREET 2:		ERITHREA 14561
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		30 210 625 2849

	MAIL ADDRESS:	
		STREET 1:		331 KIFISSIAS AVENUE
		STREET 2:		ERITHREA 14561
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>d170255d20f.htm
<DESCRIPTION>FORM 20-F
<TEXT>
<HTML><HEAD>
<TITLE>FORM 20-F</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>WASHINGTON D.C. 20549 </B></FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 20-F
</B></FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g)&nbsp;OF THE </B></FONT></TD></TR></TABLE>
<P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECURITIES EXCHANGE ACT OF 1934 </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>OR </B></FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT><B></B><B></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE </B></FONT></TD></TR></TABLE> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECURITIES EXCHANGE ACT OF 1934 </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>For the fiscal year ended December&nbsp;31, 2015 </B></FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>OR </B></FONT></P>
<P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE </B></FONT></TD></TR></TABLE> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECURITIES EXCHANGE ACT OF 1934 </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>OR </B></FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE </B></FONT></TD></TR></TABLE> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECURITIES EXCHANGE ACT OF 1934 </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Commission file number 001-36797 </B></FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>STEALTHGAS
INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Exact name of Registrant as specified in its charter) </B></FONT></P>
<P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Not applicable </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Translation of Registrant&#146;s Name into English) </B></FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Republic of the
Marshall Islands </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Jurisdiction of incorporation or organization) </B></FONT></P>
<P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>331 Kifissias Avenue, Erithrea 14561 Athens, Greece </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of principal executive offices) </B></FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Harry N. Vafias </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>331 Kifissias Avenue, Erithrea 14561, Athens, Greece </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Telephone: (011)&nbsp;(30)&nbsp;(210)&nbsp;625 0001 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Facsimile:
(011)&nbsp;(30)&nbsp;(210)&nbsp;625 0018 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact
Person) </B></FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: </B></FONT></P>
<P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:60pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Title of each class</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:148pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of each exchange on which registered</B></FONT></P></TD></TR>


<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Common Stock, par value $0.01 per share</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>The Nasdaq Stock Market LLC</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>None </B></FONT></P>
<P STYLE="margin-top:2px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>SECURITIES FOR WHICH THERE IS A REPORTING OBLIGATION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>PURSUANT TO SECTION 15(d) OF THE ACT: </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>None </B></FONT></P>
<P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">The number of outstanding shares of each of the issuer&#146;s classes of capital or common stock as of December&nbsp;31, 2015 was:
40,517,676 shares of Common Stock, par value $0.01 per share </FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">Indicate by check mark if the registrant is a well-known seasoned
issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> No </FONT></P>
<P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934.&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> No </FONT></P>
<P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> No </FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">Indicate by
check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter)
during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>
No </FONT></P> <P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated
filer. See definition of &#147;accelerated filer and large accelerated filer&#148; in Rule 12b-2 of the Exchange Act. (Check one): </FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>


<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">Accelerated&nbsp;filer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">Non-accelerated&nbsp;filer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;(Do&nbsp;not&nbsp;check&nbsp;if&nbsp;a&nbsp;smaller&nbsp;reporting&nbsp;company)</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">Indicate by check mark which basis of accounting the registrant has used to prepare the financial
statements included in this filing. </FONT></P> <P STYLE="font-size:2px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">U.S.&nbsp;GAAP&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:4.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">International Financial Reporting Standards as issued by the</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px; margin-left:4.00em; text-indent:4.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">International Accounting Standards Board&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">Other&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">If &#147;Other&#148; has been checked in response to the previous question, indicate by check mark which
financial statement item the registrant has elected to follow.&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Item 17&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Item 18 </FONT></P>
<P STYLE="margin-top:2px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:Times New Roman" SIZE="1">If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> No </FONT></P> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


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<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_1">FORWARD-LOOKING INFORMATION </A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_2">PART&nbsp;I </A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;1.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_3">Identity of Directors, Senior Management and Advisers</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;2.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_4">Offer Statistics and Expected Timetable</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;3.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_5">Key Information</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;4.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_6">Information on the Company</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;4A.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_7">Unresolved Staff Comments</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;5.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_8">Operating and Financial Review and Prospects</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;6.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_9">Directors, Senior Management and Employees</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;7.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_10">Major Shareholders and Related Party Transactions</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;8.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_11">Financial Information</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">70</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;9.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_12">The Offer and Listing</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">71</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;10.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_13">Additional Information</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">72</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;11.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_14">Quantitative and Qualitative Disclosures About Market Risk</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">86</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;12.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_15">Description of Securities Other than Equity Securities</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">87</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_16">PART&nbsp;II </A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">88</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;13.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_17">Defaults, Dividend Arrearages and Delinquencies</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">88</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;14.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_18">Material Modifications to the Rights of Security Holders and Use of Proceeds</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">88</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;15.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_19">Controls and Procedures</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">88</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16A.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_20">Audit Committee Financial Expert</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16B.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_21">Code of Ethics</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16C.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_22">Principal Accountant Fees and Services</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16D.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_23">Exemptions from the Listing Standards for Audit Committees</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">92</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16E.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_24">Purchases of Equity Securities by the Issuer and Affiliated Purchasers</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">92</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16F.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_25">Change in Registrant&#146;s Certifying Accountant</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16G.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_26">Corporate Governance</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;16H.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_27">Mine Safety Disclosures</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_28">PART&nbsp;III </A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">94</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;17.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_29">Financial Statements</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">94</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;18.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_30">Financial Statements</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">94</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;19.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#toc170255_31">Exhibits</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">94</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_1"></A>FORWARD-LOOKING INFORMATION </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Annual Report on Form 20-F includes assumptions, expectations, projections, intentions and beliefs about future events. These
statements are intended as &#147;forward-looking statements.&#148; We caution that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results and the differences can be material.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All statements in this document that are not statements of historical fact are forward-looking statements as defined in
Section&nbsp;27A of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). Forward-looking statements include, but are not
limited to, such matters as: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">future operating or financial results; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">global and regional economic and political conditions; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">pending or recent acquisitions, business strategy and expected capital spending or operating expenses; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">competition in the marine transportation industry; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">shipping market trends, including charter rates, factors affecting supply and demand and world fleet composition; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">ability to employ our vessels profitably; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">performance by the counterparties to our charter agreements; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">future liquefied petroleum gas (&#147;LPG&#148;), refined petroleum product and oil prices and production; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">future supply and demand for oil and refined petroleum products and natural gas of which LPG is a byproduct; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our financial condition and liquidity, including our ability to obtain financing in the future to fund capital expenditures, acquisitions and other
general corporate activities, the terms of such financing and our ability to comply with covenants set forth in our existing and future financing arrangements; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">performance by the shipyards constructing our newbuilding vessels; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">expectations regarding vessel acquisitions and dispositions. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">When used in this document, the words &#147;anticipate,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;estimate,&#148;
&#147;project,&#148; &#147;forecast,&#148; &#147;plan,&#148; &#147;potential,&#148; &#147;may,&#148; &#147;should&#148; and &#147;expect&#148; reflect forward-looking statements. Such statements reflect our current views and assumptions and all
forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect our future financial results are discussed more fully under &#147;Item 3.
Key Information&#151;Risk Factors,&#148; as well as elsewhere in this Annual Report on Form 20-F and in our other filings with the U.S. Securities and Exchange Commission (&#147;SEC&#148;). We caution readers of this Annual Report not to place undue
reliance on these forward-looking statements, which speak only as of their dates. We undertake no obligation to publicly update or revise any forward-looking statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_2"></A>PART I </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">StealthGas Inc. is a Marshall Islands company that is referred to in this Annual Report on Form 20-F, together with its subsidiaries, as
&#147;StealthGas,&#148; the &#147;Company,&#148; &#147;we,&#148; &#147;us,&#148; or &#147;our.&#148; This Annual Report should be read in conjunction with our consolidated financial statements and the accompanying notes thereto, which are included
in Item&nbsp;18 to this Annual Report. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We use the term cubic meters, or &#147;cbm,&#148; in describing the size of our
liquefied petroleum gas (&#147;LPG&#148;) carriers and the term deadweight tons, or &#147;dwt,&#148; in describing the size of our product carriers and crude oil tanker. We use the term &#147;small&#148; to describe LPG carriers of between 3,000 and
8,000 cbm in capacity. Unless otherwise indicated, all references to currency amounts in this annual report are in U.S. dollars. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_3"></A>Item&nbsp;1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Identity of Directors, Senior Management and Advisers </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not Applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_4"></A>Item&nbsp;2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Offer Statistics and Expected Timetable </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not Applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_5"></A>Item&nbsp;3.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Key Information </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>A. Selected
Consolidated Financial Data </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following table sets forth our selected consolidated financial data and other operating
data shown in U.S. dollars, other than share and fleet data. The table should be read together with &#147;Item 5. Operating and Financial Review and Prospects.&#148; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our audited consolidated statements of income and comprehensive income, stockholder&#146;s
equity and cash flows for the years ended December&nbsp;31, 2013, 2014, and 2015 and the audited consolidated balance sheets as of December&nbsp;31, 2014 and 2015, together with the notes thereto, are included in &#147;Item 18. Financial
Statements&#148; and should be read in their entirety. The selected consolidated income statement data for the years ended December&nbsp;31, 2011 and 2012 and the selected balance sheet data as of December&nbsp;31, 2011, 2012 and 2013 have been
derived from our audited consolidated financial statements which are not included in &#147;Item 18. Financial Statements&#148;. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year Ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2011</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2012</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>INCOME STATEMENT DATA</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Revenues</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">118,280,752</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">114,848,079</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">111,667,565</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">122,158,892</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">131,501,881</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Revenues&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,364,992</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,814,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,814,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,814,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total Revenues</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">118,280,752</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">119,213,071</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">121,481,565</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">131,972,892</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">141,315,881</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Operating expenses:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,354,725</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,231,340</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,819,866</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,474,090</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,849,855</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,474,495</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,472,410</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,482,764</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,613,421</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,725,683</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels&#146; operating expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">36,350,153</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,674,675</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32,439,404</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,335,984</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46,477,583</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels&#146; operating expenses-related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">208,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,917,302</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,084,149</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,099,352</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,177,042</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charter hire expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">320,804</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,124,960</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dry-docking costs</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,443,491</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,067,393</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,160,251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">465,681</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,774,905</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,760,865</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,315,720</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,807,010</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,501,675</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,452,145</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">General and administrative expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,646,418</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,838,759</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,816,397</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,150,929</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,655,316</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Depreciation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">27,562,120</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,776,688</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30,761,673</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,811,607</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35,857,507</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Impairment loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,168,747</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,238,987</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net loss/(gain) on sale of vessels</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,654,178</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,372,409</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(33,251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">98,454,445</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">79,921,878</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">92,371,514</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">108,942,290</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">128,300,732</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Income from operations</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19,826,307</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">39,291,193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29,110,051</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23,030,602</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,015,149</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest and finance costs</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,510,516</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(9,408,230</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,189,475</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(9,314,539</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,385,261</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,931,404</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,086,258</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(27,470</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,348,384</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(370,584</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">83,059</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">221,023</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">361,820</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">456,924</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">173,083</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Foreign exchange gain/(loss)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">82,345</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(59,241</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(37,733</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(138,777</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">134,291</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:7.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other expenses, net</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(11,276,516</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,332,706</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(7,892,858</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,344,776</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,448,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:7.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,549,791</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,958,487</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,217,193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,685,826</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,566,678</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Earnings per share, basic</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.06</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Earnings per share, diluted</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.06</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Weighted (basic and diluted) average number of shares outstanding</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,909,154</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,552,568</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,271,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">39,305,644</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,315,127</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dividends declared per share</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>As of December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2011</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2012</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BALANCE SHEET DATA</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current assets, including cash</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56,521,743</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56,263,407</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">97,885,057</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">139,742,461</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">123,372,369</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total assets</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">694,362,527</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">711,743,545</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">849,673,159</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">944,358,260</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,037,874,170</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current liabilities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">55,970,499</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">55,674,467</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">62,916,872</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67,289,874</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">103,714,126</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Derivative liability</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,401,798</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,949,241</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,232,967</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,456,663</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">978,853</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total long-term debt, including current portion(13)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">349,720,557</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">344,056,826</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">351,557,038</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">323,982,310</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">422,162,554</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net assets</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">313,098,027</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">342,033,442</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">472,594,443</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">592,390,274</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">583,051,160</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capital stock</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">211,049</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">211,796</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">326,796</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">442,850</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">442,850</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Number of shares of common stock outstanding</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,552,568</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,627,329</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32,127,329</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">42,889,773</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">40,517,676</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2011</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2012</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>OTHER FINANCIAL DATA</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net cash provided by operating activities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">42,375,718</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">48,440,976</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49,127,375</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">55,237,735</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">48,054,596</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net cash used in investing activities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(31,593,396</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(43,898,116</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(119,786,421</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(91,107,863</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(165,005,713</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net cash provided by/(used in) financing activities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,953,018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5,710,869</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">114,608,308</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">79,018,076</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">87,899,271</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>FLEET DATA</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Average number of vessels(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">37.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">36.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">39.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">44.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">48.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total voyage days for fleet(2)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,342</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14,196</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,028</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18,446</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total time and bareboat charter days for fleet(3)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,455</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,531</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,896</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,893</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14,516</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total spot market days for fleet(4)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,913</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,811</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,135</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,930</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total calendar days for fleet(5)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,716</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,494</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14,399</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,136</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18,541</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fleet utilization(6)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">97.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">98.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">98.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">99.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">99.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fleet operational utilization(7)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">89.7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">95.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">92.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">92.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AVERAGE DAILY RESULTS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Adjusted average charter rate(8)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,514</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,983</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,550</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,355</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,708</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel operating expenses(9)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,665</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,267</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,537</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,816</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,732</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">General and administrative expenses(10)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">210</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">196</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">195</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">197</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management fees(11)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">347</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">319</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">334</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">341</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">348</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total daily operating expenses(12)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,858</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,477</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,732</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,011</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,929</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Average number of vessels is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel
was a part of our fleet during the period divided by the number of calendar days in that period. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our total voyage days for our fleet reflect the total days the vessels we operated were in our possession for the relevant periods, net of off-hire days associated with
major repairs, drydockings or special or intermediate surveys. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total time and bareboat charter days for fleet are the number of voyage days the vessels in our fleet operated on time or bareboat charters for the relevant period.
</FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total spot market charter days for fleet are the number of voyage days the vessels in our fleet operated on spot market charters for the relevant period.
</FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total calendar days are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs,
drydockings or special or intermediate surveys. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet
calendar days for the relevant period. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(7)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fleet operational utilization is the percentage of time that our vessels generated revenue, and is determined by dividing voyage days (excluding commercially idle days)
by fleet calendar days for the relevant period. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Adjusted average charter rate is a measure of the average daily revenue performance of a vessel on a per voyage basis. We determine the adjusted average charter rate by
dividing voyage revenues (net of voyage expenses) by voyage days for the relevant time period. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage and are payable by us under a spot charter (which
would otherwise be paid by the charterer under a time or bareboat charter contract), as well as commissions. Charter equivalent revenues and adjusted average charter rate are non-GAAP measures which provide additional meaningful information in
conjunction with voyage revenues, the most directly comparable GAAP measure, because they assist Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. They are also
standard shipping industry performance measures used primarily to compare period-to-period changes in a shipping company&#146;s performance despite changes in the mix of charter types (i.e., spot charters or time charters, but not bareboat charters)
under which the vessels may be employed between the periods. Under bareboat charters, we are not responsible for either voyage expenses, unlike spot charters, or vessel operating expenses, unlike spot charters and time charters; however, no
adjustment for such reduced vessel operating expenses for our vessels deployed under bareboat charters is reflected in the adjusted average charter rate. Reconciliation of charter equivalent revenues as reflected in the consolidated statements of
income and calculation of adjusted average charter rate follow: </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2011</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2012</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage revenues</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">118,280,752</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">119,213,071</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">121,481,565</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">131,972,892</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">141,315,881</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(17,829,220</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(12,703,750</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(14,302,630</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(14,087,511</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(17,575,538</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charter equivalent revenues</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">100,451,532</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">106,509,321</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">107,178,935</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">117,885,381</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">123,740,343</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total voyage days for fleet</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,342</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14,196</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,028</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18,446</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Adjusted average charter rate</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,514</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,983</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,550</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,355</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,708</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE></DIV> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(9)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel operating expenses, including related party vessel operating expenses, consist of crew costs, provisions, deck and engine stores, lubricating oil, insurance,
maintenance and repairs, is calculated by dividing vessel operating expenses by fleet calendar days for the relevant time period. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Daily general and administrative expenses are calculated by dividing total general and administrative expenses by fleet calendar days for the relevant period.
</FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(11)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management fees are based on a fixed rate management fee of $440 per day for each vessel in our fleet under spot or time charter and a fixed rate fee of $125 per day
for each of the vessels operating on bareboat charter. Daily management fees are calculated by dividing total management fees by fleet calendar days for the relevant period. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(12)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total operating expenses, or &#147;TOE&#148;, is a measurement of our total expenses associated with operating our vessels. TOE is the sum of vessel operating expenses
and general and administrative expenses. Daily TOE is calculated by dividing TOE by fleet calendar days for the relevant time period. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(13)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have early adopted the new standard Accounting Standards Update (&#147;ASU&#148;) 2015-03, Interest-Imputation of Interest (Subtopic 835-30), Simplifying the
Presentation of Debt Issuance Costs, retrospectively during the fourth quarter of 2015. The guidance simplifies the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding liability,
consistent with debt discounts, instead of presenting debt issuance costs as long-term assets on the consolidated balance sheets. Total long term debt including current portion has been adjusted accordingly for all the years presented above. The
recognition and measurement guidance for debt issuance costs is not affected. Therefore, these costs will continue to be amortized as interest expense using the effective interest method. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>B. Capitalization and Indebtedness </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C. Reasons
For the Offer and Use of Proceeds </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not Applicable. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>D. Risk Factors </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Risks Related To Our Industry </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>The cyclical nature of the demand for LPG transportation may lead to significant changes in our chartering and vessel utilization, which may
adversely affect our revenues, profitability and financial position. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Historically, the international LPG carrier
market has been cyclical with attendant volatility in profitability, charter rates and vessel values. The degree of charter rate volatility among different types of gas carriers has varied widely. Because many factors influencing the supply of, and
demand for, vessel capacity are unpredictable, the timing, direction and degree of changes in the international gas carrier market are also not predictable. After improving from low levels in late 2011 until the third quarter of 2014, charter rates
for small LPG carriers have since declined significantly, largely due to the fall in oil prices. If charter rates decline further, our earnings may decrease, particularly with respect to our vessels deployed in the spot market or those vessels whose
charters will be subject to renewal during 2016, as they may not be extended or renewed on favorable terms when compared to the terms of the expiring charters. As of April&nbsp;1, 2016, of our 51 LPG carriers in the water, including two vessels that
are chartered in, 13 were deployed in the spot market while another 15 were scheduled to complete their existing charters during 2016. In addition, we expect to take delivery of one newbuilding LPG carrier in the remainder of 2016, for which we have
arranged an 18-month time charter and four newbuilding LPG carriers in 2017 for which we have not yet arranged employment. Any of the foregoing factors could have an adverse effect on our revenues, profitability, liquidity, cash flow and financial
position. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Future growth in the demand for LPG carriers and charter rates will depend on economic growth in the world economy
and demand for LPG product transportation that exceeds the capacity of the growing worldwide LPG carrier fleet&#146;s ability to match it. We believe that the future growth in demand for LPG carriers and the charter rate levels for LPG carriers will
depend primarily upon the supply and demand for LPG, particularly in the economies of China, Japan, India and Southeast Asia, as well as U.S. shale production, and upon seasonal and regional changes in demand and changes to the capacity of the world
fleet. The capacity of the world shipping fleet appears likely to increase in the near term, although growth in the 3,000 to 8,000 cbm segment of small LPG carriers is expected to be relatively limited in 2016. Oil prices may remain low and economic
growth may be limited in the near term, and possibly for an extended period, as a result of the current global economic conditions, which could have an adverse effect on our business and results of operations. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The factors affecting the supply and demand for LPG carriers are outside of our control, and the nature, timing and degree of changes in
industry conditions are unpredictable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The factors that influence demand for our vessels include: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">supply and demand for LPG products; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the price of oil; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">global and regional economic conditions; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the distance LPG products are to be moved by sea; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">availability of alternative transportation means; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in seaborne and other transportation patterns; </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">environmental and other regulatory developments; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">weather. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The factors that influence the supply of vessel capacity include: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the number of newbuilding deliveries; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the scrapping rate of older vessels; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">LPG carrier prices; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in environmental and other regulations that may limit the useful lives of vessels; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the number of vessels that are out of service. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">A significant decline in demand for the seaborne transport of LPG or a significant increase in the supply of LPG carrier capacity without a corresponding growth in LPG carrier demand could cause a
significant decline in prevailing charter rates, which could materially adversely affect our financial condition and operating results and cash flow. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Various economic factors could materially adversely affect our business, financial position and results of operations, as well as our future prospects. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The global economy and the volume of world trade have remained relatively weak since the severe decline in the latter part of 2008 and in
2009. Recovery of the global economy is proceeding at varying speeds across regions and remains subject to downside risks, including fragility of advanced economies and concerns over sovereign debt defaults by European Union member countries such as
Greece. More specifically, some LPG products we carry are used in cyclical businesses, such as the manufacturing of plastics and in the chemical industry, that were adversely affected by the economic downturn and, accordingly, continued weakness and
reduction in demand in those industries could adversely affect the LPG carrier industry. In particular, an adverse change in economic conditions affecting China, Japan, India or Southeast Asia generally could have a negative effect on the demand for
LPG products, thereby adversely affecting our business, financial position and results of operations, as well as our future prospects. In particular, in recent years China and India have been among the world&#146;s fastest growing economies in terms
of gross domestic product, but have shown signs of slowing growth recently, particularly in China where concerns over a potentially significant slowdown in growth have emerged. Moreover, any further deterioration in the economy of the United States
or the European Union, including the impact of the European sovereign debt and banking crisis, may further adversely affect economic growth in Asia. In addition, as a result of the ongoing economic slump in Greece resulting from the sovereign debt
crisis and the related austerity measures implemented by the Greek government, our operations in Greece may be subjected to new regulations that may require us to incur new or additional compliance or other administrative costs and may require that
we pay to the Greek government new taxes or other fees. Furthermore, the change in the Greek government and potential shift in its policies may undermine Greece&#146;s political and economic stability, which may adversely affect our operations and
those of our manager located in Greece. We also face the risk that strikes, work stoppages, civil unrest and violence, as well as capital controls implemented in 2015 within Greece, may disrupt our shore side operations and those of our manager
located in Greece. Our business, financial position and results of operations, as well as our future prospects, could likely be materially and adversely affected by adverse economic conditions in any of these countries or regions. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>If the demand for LPG products and LPG shipping does not grow, or decreases, our business, results of
operations and financial condition could be adversely affected. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our growth, which depends on growth in the supply and
demand for LPG products and LPG shipping, was adversely affected by the sharp decrease in world trade and the global economy experienced in the latter part of 2008 and in 2009. Although the global economy has slightly recovered, it remains
relatively weak in many parts of the world with emerging concern regarding a renewed slowdown in recent months and world and regional demand for LPG products and LPG shipping can be adversely affected by a number of factors, such as: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">adverse global or regional economic or political conditions, particularly in LPG consuming regions, which could reduce energy consumption;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a reduction in global or general industrial activity specifically in the plastics and chemical industries; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">further decline in the price of oil which makes LPG a less attractive alternative for some uses and generally leads to reduced production of oil and
gas; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in the cost of petroleum and natural gas from which LPG is derived; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">decreases in the consumption of LPG or natural gas due to availability of new alternative energy sources, or increases in the price of LPG or natural
gas relative to other energy sources, or other factors making consumption of LPG or natural gas less attractive, such as the dramatic decline in crude oil prices since the third quarter of 2014; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">increases in pipelines for LPG, which are currently few in number, linking production areas and industrial and residential areas consuming LPG, or the
conversion of existing non-petroleum gas pipelines to petroleum gas pipelines in those markets. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reduced
demand for LPG products and LPG shipping would have an adverse effect on our future growth and would harm our business, results of operations and financial condition. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our operating results are subject to seasonal fluctuations, which could affect our operating results and the amount of available cash with which we can pay dividends. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We operate our LPG carriers in markets that have historically exhibited seasonal variations in demand and, as a result, in charter hire
rates. This seasonality may result in quarter-to-quarter volatility in our operating results, which could affect the amount of dividends that we may pay to our stockholders from quarter-to-quarter. The LPG carrier market is typically stronger in the
fall and winter months in anticipation of increased consumption of propane and butane for heating during the winter months. In addition, unpredictable weather patterns in these months tend to disrupt vessel scheduling and supplies of certain
commodities. As a result, our revenues may be stronger in fiscal quarters ended December&nbsp;31 and March&nbsp;31, and conversely, our revenues may be weaker during the fiscal quarters ended June&nbsp;30 and September&nbsp;30. This seasonality
could materially affect our quarterly operating results. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our revenues, operations and future growth could be adversely affected by a
decrease in supply of liquefied natural gas, or natural gas. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In recent years, there has been a strong supply of
natural gas and an increase in the construction of plants and projects involving natural gas, of which LPG is a byproduct. Several of these projects, however, have experienced delays in their completion for various reasons and thus the expected
increase in the supply of LPG from these projects may be delayed significantly. The recent declines in oil prices and natural gas could exacerbate these dynamics. If the supply of natural gas decreases, we may see a concurrent reduction in the
production of LPG, resulting in lesser demand and lower charter rates for our vessels, which could ultimately have a material adverse impact on our revenues, operations and future growth. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>The product carrier and crude oil tanker shipping sectors are cyclical, which may lead to lower
charter rates and lower vessel values</I></B>.<B><I> </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The medium range type product carrier and crude oil tanker
shipping sectors are cyclical with attendant volatility in charter rates and vessel values. The first charter arrangement of our product carriers is scheduled to expire in 2016, the second arrangement is scheduled to expire in 2017, while the third
charter arrangement of our product carriers is scheduled to expire in 2019. The charter for our crude oil tanker is not scheduled to expire until February 2018. If prevailing market conditions in these sectors, which declined sharply in 2008 and
2009 and remained weak before recovering since the fourth quarter of 2014 are depressed at such times as these charters expire or otherwise are terminated, we may not be able to renew or replace existing charters for these vessels at the same or
similar rates. If we were required to enter into a charter when charter hire rates are low, our results of operations could be adversely affected. Charter rates in the product carrier sector, and particularly the crude oil tanker sector, have
increased from depressed levels since the fourth quarter of 2014, however, the sustainability of this recovery is uncertain and rates could decline again. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>An over-supply of ships may lead to a reduction in charter rates, vessel values and profitability. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The market supply of LPG carriers and tankers is affected by a number of factors, such as supply and demand for LPG, natural gas and other energy resources, including oil and petroleum products, supply
and demand for seaborne transportation of such energy resources, and the current and expected purchase orders for newbuildings. If the capacity of new LPG carriers and tankers delivered exceeds the capacity of such vessel types being scrapped and
converted to non-trading vessels, global fleet capacity will increase. If the supply of LPG carrier or tanker capacity increases, and if the demand for the capacity of such vessel types decreases, or does not increase correspondingly, charter rates
could materially decline. A reduction in charter rates and the value of our vessels may have a material adverse effect on our results of operations. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>The market values of our vessels may remain at relatively low levels for a prolonged period and over time may fluctuate significantly. When the market values of our vessels are low, we may incur a
loss on sale of a vessel or record an impairment charge, as we did in 2015 and 2014, which may adversely affect our earnings and possibly lead to defaults under our loan agreements. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The market value of our vessels may fluctuate significantly, and these experienced significant declines during the economic crisis.
Although small LPG carrier values recovered from 2011 to the third quarter of 2014, before declining again, and tanker rates remained low until recovering since the fourth quarter of 2014, vessel values remain well below the highs reached in 2007
and 2008. The market values of our vessels are subject to potential significant fluctuations depending on a number of factors including: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">general economic and market conditions affecting the shipping industry; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">age, sophistication and condition of our vessels; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">types and sizes of vessels; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">availability of other modes of transportation; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">cost and delivery of schedules for newbuildings; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">governmental and other regulations; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">supply and demand for LPG products and refined petroleum products and oil, respectively; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">prevailing level of LPG charter rates and, with respect to our product carriers, the prevailing level of product carrier charter rates and crude oil
tanker rates, respectively; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">technological advances. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In 2015, we recognized an impairment loss of $8.2 million relating to three of our older LPG vessels whose market values had declined below their carrying values. In 2014 we recognized an impairment loss
of $6.2 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


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million resulting from our decision to sell two of the older LPG carriers in our fleet for demolition. If we sell vessels at a time when vessel prices have fallen, the sale may be for less than
the vessel&#146;s carrying value in our financial statements, resulting in a loss and reduction in earnings. Furthermore, if vessel values experience significant declines, we may have to record an impairment adjustment in our financial statements,
which would also result in a reduction in our earnings. If the market value of our fleet declines, we may not be in compliance with certain provisions of our existing loan agreements and we may not be able to refinance our debt or obtain additional
financing or, if reinstated, pay dividends. If we are unable to pledge additional collateral, our lenders could accelerate our debt and foreclose on our fleet. The loss of our vessels would mean we could not run our business. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Technological innovation could reduce our charter hire income and the value of our vessels. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The charter hire rates and the value and operational life of a vessel are determined by a number of factors including the vessel&#146;s
efficiency, operational flexibility and physical life. Efficiency includes speed, fuel economy and the ability to load and discharge cargo quickly. Flexibility includes the ability to enter harbors, utilize related docking facilities and pass
through canals and straits. The length of a vessel&#146;s physical life is related to its original design and construction, its maintenance and the impact of the stress of operations. If new LPG carriers or tankers are built that are more efficient
or more flexible or have longer physical lives than our vessels, competition from these more technologically advanced vessels could adversely affect the amount of charter hire payments we receive for our vessels, and the resale value of our vessels
could significantly decrease. Consequently, our results of operations and financial condition could be adversely affected. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Changes in
fuel, or bunker, prices may adversely affect profits. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">While we do not bear the cost of fuel or bunkers under time and
bareboat charters, fuel is a significant expense in our shipping operations when vessels are deployed under spot charters. Changes in the price of fuel may adversely affect our profitability. The price and supply of fuel is unpredictable and
fluctuates based on events outside our control, including geopolitical developments, supply and demand for oil and gas, actions by the OPEC (&#147;Organization Of Petroleum Exporting Countries&#148;) and other oil and gas producers, war and unrest
in oil producing countries and regions, regional production patterns and environmental concerns. Furthermore fuel, which has been less expensive since the price of oil began declining in the third quarter of 2014, may become much more expensive in
the future, which may reduce profitability. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We are subject to regulation and liability under environmental laws that could require
significant expenditures and affect our financial conditions and results of operations. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our business and the operation
of our vessels are materially affected by government regulation in the form of international conventions and national, state and local laws and regulations in force in the jurisdictions in which the vessels operate, as well as in the country or
countries of their registration. These regulations include, but are not limited to the U.S. Oil Pollution Act of 1990, or OPA, that establishes an extensive regulatory and liability regime for the protection and cleanup of the environment from oil
spills and applies to any discharges of oil from a vessel, including discharges of fuel oil (bunkers) and lubricants, the U.S. Clean Air Act, U.S. Clean Water Act and the U.S. Marine Transportation Security Act of 2002, and regulations of the
International Maritime Organization, or the IMO, including the International Convention for the Prevention of Pollution from Ships of 1975, the International Convention for the Prevention of Marine Pollution of 1973, and the International Convention
for the Safety of Life at Sea of 1974. To comply with these and other regulations we may be required to incur additional costs to meet new maintenance and inspection requirements, develop contingency plans for potential spills, and obtain insurance
coverage. Because those laws and regulations are often revised, we cannot predict the ultimate cost of complying with them, or the impact they may have on the resale prices or useful lives of our vessels. However, a failure to comply with applicable
laws and regulations may result in administrative and civil penalties, criminal sanctions or the suspension or termination of our operations. Additional laws and regulations may be adopted which could limit our ability to do business or increase the
cost of our doing business </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



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and which could materially adversely affect our operations. We are also required by various governmental and quasi-governmental agencies to obtain permits, licenses, certificates and financial
assurances with respect to our operations. These permits, licenses, certificates and financial assurances may be issued or renewed with terms that could materially and adversely affect our operations. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The operation of our vessels is affected by the requirements set forth in the International Management Code for the Safe Operation of
Ships and Pollution Prevention (&#147;ISM Code&#148;). The ISM Code requires ship owners and bareboat charterers to develop and maintain an extensive &#147;Safety Management System&#148; (&#147;SMS&#148;) that includes the adoption of a safety and
environmental protection policy setting forth instructions and procedures for safe operation and describing procedures for dealing with emergencies. The failure of a ship owner or bareboat charterer to comply with the ISM Code may subject the owner
or charterer to increased liability, may decrease available insurance coverage for the affected vessels, may result in a denial of access to, or detention in, certain ports or may result in breach of our bank covenants. Currently, each of the
vessels in our fleet is ISM Code-certified. Because these certifications are critical to our business, we place a high priority on maintaining them. Nonetheless, there is the possibility that such certifications may not be renewed. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We currently maintain, for each of our vessels, pollution liability insurance coverage in the amount of $1.0 billion per incident. In
addition, we carry hull and machinery and protection and indemnity insurance to cover the risks of fire and explosion. Under certain circumstances, fire and explosion could result in a catastrophic loss. We believe that our present insurance
coverage is adequate, but not all risks can be insured, and there is the possibility that any specific claim may not be paid, or that we will not always be able to obtain adequate insurance coverage at reasonable rates. If the damages from a
catastrophic spill exceeded our insurance coverage, the effect on our business would be severe and could possibly result in our insolvency. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We believe that regulation of the shipping industry will continue to become more stringent and compliance with such new regulations will be more expensive for us and our competitors. Substantial
violations of applicable requirements or a catastrophic release from one of our vessels could have a material adverse impact on our financial condition and results of operations. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Climate change and greenhouse gas restrictions may adversely impact our operations and markets. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Due to concern over the risks of climate change, a number of countries and the International Maritime Organization, or &#147;IMO&#148;, have adopted, or are considering the adoption of, regulatory
frameworks to reduce greenhouse gas emission from ships. These regulatory measures may include adoption of cap and trade regimes, carbon taxes, increased efficiency standards and incentives or mandates for renewable energy. Emissions of greenhouse
gases from international shipping currently are not subject to the Kyoto Protocol to the United Nations Framework Convention on Climate Change, or the &#147;Kyoto Protocol&#148;, or any amendments or successor agreements, including the Paris
Agreement adopted under the United Nations Framework Convention on Climate Change in December 2015, which contemplates commitments from each nation party thereto to take action to reduce greenhouse gas emissions and limit increases in global
temperatures but did not include any restrictions or other measures specific to shipping emissions. However, restrictions on shipping emissions are likely to continue to be considered, and a new treaty may be adopted in the future that includes
additional restrictions on shipping emissions to those already adopted under the International Convention for the Prevention of Marine Pollution from Ships, or the &#147;MARPOL Convention&#148;. Compliance with future changes in laws and regulations
relating to climate change could increase the costs of operating and maintaining our ships and could require us to install new emission controls, as well as acquire allowances, pay taxes related to our greenhouse gas emissions or administer and
manage a greenhouse gas emissions program. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Adverse effects upon the oil and gas industry relating to climate change,
including growing public concern about the environmental impact of climate change, may also have an effect on demand for our services. For example, increased regulation of greenhouse gases or other concerns relating to climate change may reduce the
demand for oil, refined petroleum products, liquefied natural gas or liquefied petroleum gas in the future or </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



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create greater incentives for use of alternative energy sources. Any long-term material adverse effect on the oil and gas industry could have significant financial and operational adverse impacts
on our business that we cannot predict with certainty at this time. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our vessels are subject to periodic inspections by a classification
society. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The hull and machinery of every commercial vessel must be classed by a classification society authorized by
its country of registry. The classification society certifies that a vessel is safe and seaworthy in accordance with the applicable rules and regulations of the country of registry of the vessel and the Safety of Life at Sea Convention. Our fleet is
currently classed with Lloyds Register of Shipping, Nippon Kaiji Kyokai, or NKK, the American Bureau of Shipping, RINA SpA, DNV and Bureau Veritas. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">A vessel must undergo annual surveys, intermediate surveys and special surveys. In lieu of a special survey, a vessel&#146;s machinery may be on a continuous survey cycle, under which the machinery would
be surveyed periodically over a five-year period. Our vessels are on special survey cycles for hull inspection and continuous survey cycles for machinery inspection. Every vessel is also required to be dry docked every two to three years for
inspection of the underwater parts of such vessel. However, for vessels not exceeding 15 years that have means to facilitate underwater inspection in lieu of dry docking, the dry docking can be skipped and be conducted concurrently with the special
survey. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a vessel does not maintain its class and/or fails any annual survey, intermediate survey or special survey, the
vessel will be unable to trade between ports and will be unemployable and we could be in violation of covenants in our loan agreements and insurance contracts or other financing arrangements. This would adversely impact our operations and revenues.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Maritime claimants could arrest our vessels, which could interrupt our cash flow. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Crew members, suppliers of goods and services to a vessel, shippers of cargo and others may be entitled to a maritime lien against that
vessel for unsatisfied debts, claims or damages. In many jurisdictions, a maritime lien holder may enforce its lien by arresting a vessel through foreclosure proceedings. The arrest or attachment of one or more of our vessels could interrupt our
cash flow and require us to pay large sums of funds to have the arrest lifted. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, in some jurisdictions, such as
South Africa, under the &#147;sister ship&#148; theory of liability, a claimant may arrest both the vessel which is subject to the claimant&#146;s maritime lien and any &#147;associated&#148; vessel, which is any vessel owned or controlled by the
same owner. Claimants could try to assert &#147;sister ship&#148; liability against one vessel in our fleet for claims relating to another of our ships or, possibly, another vessel managed by Stealth Maritime, as was the case with the arrest of our
vessel<I> MT Spike</I> in August 2015 as discussed in &#147;Item 8. Financial Information. Legal Proceedings&#148;. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Governments could
requisition our vessels during a period of war or emergency, resulting in loss of revenues. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A government could
requisition for title or seize our vessels. Requisition for title occurs when a government takes control of a vessel and becomes the owner. Also, a government could requisition our vessels for hire. Requisition for hire occurs when a government
takes control of a vessel and effectively becomes the charterer at dictated charter rates. Generally, requisitions occur during a period of war or emergency. Government requisition of one or more of our vessels would adversely impact our operations
and revenues, thereby resulting in loss of revenues. </FONT></P>
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would adversely affect our revenues and stock price. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The operation of an ocean-going vessel carries inherent risks.
These risks include the possibility of: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">marine accident or disaster; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">piracy and terrorism; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">explosions; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">environmental accidents; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">pollution; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">loss of life; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">cargo and property losses or damage; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">business interruptions caused by mechanical failure, human error, war, political action in various countries, labor strikes or adverse weather
conditions. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Any of these circumstances or events could increase our costs or lower our revenues. The
involvement of our vessels in a serious accident could harm our reputation as a safe and reliable vessel operator and lead to a loss of business. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our vessels may suffer damage and we may face unexpected repair costs, which could affect our cash flow and financial condition. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If our vessels suffer damage, they may need to be repaired at a shipyard facility. The costs of repairs are unpredictable and can be
substantial. We may have to pay repair costs that our insurance does not cover. The loss of earnings while these vessels are being repaired and repositioned, as well as the actual cost of these repairs, would have an adverse effect on our cash flow
and financial condition. We do not intend to carry business interruption insurance. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Acts of piracy on ocean-going vessels could
adversely affect our business. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Acts of piracy have historically affected ocean-going vessels trading in regions of the
world such as the South China Sea, the Indian Ocean and in the Gulf of Aden, off the coast of Somalia. Although the frequency of sea piracy worldwide leveled off somewhat in recent years, sea piracy incidents continue to occur, particularly in the
Gulf of Aden off the coast of Somalia and increasingly in the Gulf of Guinea. If these piracy attacks occur in regions in which our vessels are deployed and are characterized by insurers as &#147;war risk&#148; zones, as the Gulf of Aden continues
to be, or Joint War Committee (JWC) &#147;war and strikes&#148; listed areas, premiums payable for such coverage, for which we are responsible with respect to vessels employed on spot charters, but not vessels employed on bareboat or time charters,
could increase significantly and such insurance coverage may be more difficult to obtain. In addition, crew costs, including due to employing onboard security guards, could increase in such circumstances. We usually employ armed guards on board the
vessels on time and spot charters that transit areas where Somali pirates operate. We may not be adequately insured to cover losses from these incidents, which could have a material adverse effect on us. In addition, detention hijacking as a result
of an act of piracy against our vessels, or an increase in cost, or unavailability of insurance for our vessels, could have a material adverse impact on our business, financial condition and results of operations. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our operations outside the United States expose us to global risks, such as political conflict and terrorism, that may interfere with the operation
of our vessels. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are an international company and primarily conduct our operations outside the United States.
Changing economic, political and governmental conditions in the countries where we are engaged in business or where our </FONT></P>
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vessels are registered affect us. In the past, political conflicts, particularly in the Arabian Gulf, resulted in attacks on vessels, mining of waterways and other efforts to disrupt shipping in
the area. Acts of terrorism may increase, with the continuing conflicts in the Middle East and North Africa, and our vessels may face higher risks of being attacked. In addition, future hostilities or other political instability in regions where our
vessels trade could affect our trade patterns and adversely affect our operations and performance. If certain shipping lanes are closed, such as Iran&#146;s recent threat to close the Straits of Hormuz, it could adversely affect the availability of
and demand for crude oil and petroleum products, as well as LPG, and negatively affect our investment and our customers&#146; investment decisions over an extended period of time. In addition, sanctions against oil exporting countries such as Iran,
Sudan and Syria, and the events in Ukraine and related sanctions against Russia may also impact the availability of crude oil, petroleum products and LPG and which would increase the availability of applicable vessels thereby impacting negatively
charter rates. In addition, any charters that we enter into with Chinese customers may be subject to new regulations in China that may require us to incur new or additional compliance or other administrative costs and may require that we pay to the
Chinese government new taxes or other fees. Changes in laws and regulations, including with regards to tax matters, and their implementation by local authorities could affect our vessels chartered to Chinese customers as well as our vessels calling
to Chinese ports and could have a material adverse effect on our business, results of operations and financial condition. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Terrorist attacks, or the perception that LPG or natural gas facilities or oil refineries and LPG carriers, natural gas carriers or
product carriers are potential terrorist targets, could materially and adversely affect the continued supply of LPG, natural gas and refined petroleum products to the United States and to other countries. Concern that LPG and natural gas facilities
may be targeted for attack by terrorists has contributed to a significant community and environmental resistance to the construction of a number of natural gas facilities, primarily in North America. If a terrorist incident involving a gas facility
or gas carrier did occur, the incident may adversely affect necessary LPG facilities or natural gas facilities currently in operation. Furthermore, future terrorist attacks could result in increased volatility of the financial markets in the United
States and globally and could result in an economic recession in the United States or the world. Any of these occurrences could have a material adverse impact on our operating results, revenues and costs. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our vessels may call on ports located in countries that are subject to sanctions and embargoes imposed by the U.S. or other governments, which
could adversely affect our reputation and the market for our common stock. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">From time to time on charterers&#146;
instructions, our vessels have called and may again call on ports located in countries subject to sanctions and embargoes imposed by the United States government and countries identified by the United States government as state sponsors of
terrorism, such as Iran, Sudan and Syria. The U.S. sanctions and embargo laws and regulations vary in their application, as they do not all apply to the same covered persons or proscribe the same activities, and such sanctions and embargo laws and
regulations may be amended or strengthened over time. On January&nbsp;16, 2016, &#147;Implementation Day&#148; for the Iran Joint Comprehensive Plan of Action (JCPOA), the United States lifted its nuclear-related secondary sanctions against Iran
which prohibited certain conduct by non-U.S. companies and individuals that occurred entirely outside of U.S. jurisdiction involving specified industry sectors in Iran, including the energy, petrochemical, automotive, financial, banking, mining,
shipbuilding and shipping sectors. By lifting the secondary sanctions against Iran, the U.S. government effectively removed U.S. imposed restraints on dealings by non-U.S. companies, such as our Company, and individuals with these formerly targeted
Iranian business sectors. Non-U.S. companies continue to be prohibited under U.S. sanctions from (i)&nbsp;knowingly engaging in conduct that seeks to evade U.S. restrictions on transactions or dealings with Iran or that causes the export of goods or
services from the United States to Iran, (ii)&nbsp;exporting, re-exporting or transferring to Iran any goods, technology, or services originally exported from the U.S. and / or subject to U.S. export jurisdiction and (iii)&nbsp;conducting
transactions with of the Iranian or Iran-related individuals and entities that remain or are placed in the future on OFAC&#146;s list of Specially Designated Nationals and Blocked Persons (SDN List), notwithstanding the lifting of secondary
sanctions. The U.S. has the ability to re-impose sanctions against Iran, including if, in the future, Iran does not comply with its obligations under the nuclear agreement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The U.S. government&#146;s primary Iran sanctions remain largely unchanged after
Implementation Day and as a consequence, U.S. persons continue to be broadly prohibited from engaging in transactions or dealings with the Government of Iran and Iranian financial institutions, which effectively impacts the transfer of funds to,
from, or through the U.S. financial system whether denominated in US dollars or any other currency. As a result of the lifting of U.S. secondary sanctions (and relevant EU sanctions), we can anticipate that some of our charterers may direct us to
carry cargoes to or from Iran. This could have various effects on us, such as affecting our reputation and our relationships with our investors and financing sources, affecting the cost of our insurance and enhancing our exposure to foreign currency
fluctuations due to the need for non-US dollar payments with respect to such voyages. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">None of our vessels called in any ports
in Cuba, Iran, Sudan or Syria during the three year period ended December&nbsp;31, 2015. Although we believe that we are in compliance with all applicable sanctions and embargo laws and regulations and intend to maintain such compliance, there can
be no assurance that we will be in compliance in the future, particularly as the scope of certain laws may vary or may be subject to changing interpretations and we may be unable to prevent our charterers from violating contractual and legal
restrictions on their operations of the vessels. Any such violation could result in fines or other penalties for us and could result in some investors deciding, or being required, to divest their interest, or not to invest, in the Company.
Additionally, some investors may decide to divest their interest, or not to invest, in the Company simply because we do business with companies that do lawful business in sanctioned countries. Moreover, our charterers may violate applicable
sanctions and embargo laws and regulations as a result of actions that do not involve us or our vessels, and those violations could in turn negatively affect our reputation. Investor perception of the value of our common stock may also be adversely
affected by the consequences of war, the effects of terrorism, civil unrest and governmental actions in these and surrounding countries. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Risks Related To Our Business </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We are dependent on the ability and willingness of our
charterers to honor their commitments to us for all our revenues. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We derive all our revenues from the payment of
charter hire by charterers of our vessels. The ability and willingness of each of our counterparties to perform their obligations under charter agreements with us will depend on a number of factors that are beyond our control and may include, among
other things, general economic conditions, the condition of the LPG carrier sector, or in the case of our product carriers the refined petroleum product carrier sector and in the case of our crude oil tanker the oil tanker sector, of the shipping
industry and the overall financial condition of the counterparties. In addition, in depressed market conditions, charterers may seek to renegotiate their charters or may default on their obligations under charters and our charterers may fail to pay
charter hire or attempt to renegotiate charter rates. Should a counterparty fail to honor its obligations under agreements with us, it may be difficult to secure substitute employment for such vessel, and any new charter arrangements we secure in
the spot market or on bareboat or time charters could be at lower rates. If we lose a charter, we may be unable to re-deploy the related vessel on terms as favorable to us. We would not receive any revenues from such a vessel while it remained
unchartered, but we may be required to pay expenses necessary to maintain the vessel in proper operating condition, insure it and service any indebtedness secured by such vessel. The failure by charterers to meet their obligations to us or an
attempt by charterers to renegotiate our charter agreements could have a material adverse effect on our revenues, results, operations and financial condition. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>We are exposed to the volatile spot market and charters at attractive rates may not be available when the charters for our vessels expire or when we are attempting to charter newbuilding LPG
carriers which we have agreed to acquire, which would have an adverse impact on our revenues and financial condition. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;1, 2016, of our 55 vessels, including two chartered in vessels, 42 were under period charters (bareboat charters and time
charters), while 13 were deployed in the spot market. As of April&nbsp;1, 2016, 62% of our </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>



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anticipated fleet days were covered by period charter contracts for the remainder of 2016 and 32% for 2017 (in each case, excluding our contracted newbuilding vessels), with period charters for
16 of our vessels scheduled to expire in 2016 and 11 of our period charters scheduled to expire in 2017. We have arranged an 18-month time charter for our LPG carrier newbuilding scheduled to be delivered in 2016, and have not yet arranged
employment for our four 22,000 cbm LPG carrier newbuildings scheduled to be delivered in 2017. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are exposed to fluctuations
in the charter market for the remaining anticipated voyage days that are not covered by fixed-rate contracts, and to the extent the counterparties to our fixed-rate charter contracts fail to honor their obligations to us. The successful operation of
our vessels in the competitive and highly volatile spot charter market depends on, among other things, obtaining profitable spot charters, which depends greatly on vessel supply and demand, and minimizing, to the extent possible, time spent waiting
for charters and time spent traveling unloaded to pick up cargo. When the current charters for our fleet expire or are terminated, it may not be possible to re-charter these vessels at similar rates, or at all, or to secure charters for our
contracted LPG carrier acquisitions at similarly profitable rates, or at all. As a result, we may have to accept lower rates or experience off hire time for our vessels, which would adversely impact our revenues, results of operations and financial
condition. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We depend upon a few significant customers for a large part of our revenues. The loss of one or more of these customers
could adversely affect our financial performance. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In our operating history we have derived a significant part of our
revenue from a small number of charterers. For the years ended December&nbsp;31, 2013, 2014 and 2015, we had only one customer from which we derived more than 10% of our revenues, accounting for 11%, 13% and 13% of our revenues, respectively.
Furthermore, for the year ended December&nbsp;31, 2015, our three largest customers accounted for 29% of our revenues. Overall, we anticipate a limited number of customers will continue to represent significant amounts of our revenue. If these
customers cease doing business or do not fulfill their obligations under the charters for our vessels, our results of operations and cash flows could be adversely affected. Further, if we encounter any difficulties in our relationships with these
charterers, our results of operations, cash flows and financial condition could be adversely affected. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our loan agreements or other
financing arrangements contain restrictive covenants that may limit our liquidity and corporate activities. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our loan
agreements impose, and our future financing arrangements may impose, operating and financial restrictions on us. These restrictions may limit our ability to: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">incur additional indebtedness; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">create liens on our assets; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">sell capital stock of our subsidiaries; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">make investments; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">engage in mergers or acquisitions; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">pay dividends; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">make capital expenditures. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our loan agreements require us to maintain specified financial ratios, satisfy financial covenants and contain cross-default clauses. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">They also require that our Chief Executive Officer, Harry Vafias, together with his immediate family, at all times own at least 10% of
our outstanding capital stock and certain of our loan agreements provide that it would </FONT></P>
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be an event of default if Harry Vafias ceased to serve as an executive officer or director of our company, Harry Vafias together with his immediate family, ceased to control our company or any
other person or group controlled 25% or more of the voting power of our outstanding capital stock. In addition, our loan agreements include restrictions on the payment of dividends in amounts exceeding 50% of our free cash flow in any rolling
12-month period. As of December&nbsp;31, 2015, we were in compliance with the loan covenants. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a result of the restrictions
in our loan agreements, or similar restrictions in our future financing arrangements with respect to future vessels which we have yet to identify, we may need to seek permission from our lenders in order to engage in some corporate actions. Our
lenders&#146; interests may be different from ours, and we may not be able to obtain their permission when needed. This may prevent us from taking actions that we believe are in our best interest which may adversely impact our revenues, results of
operations and financial condition. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A failure by us to meet our payment and other obligations, including our financial
covenants and security coverage requirement, could lead to defaults under our secured loan agreements. Our lenders could then accelerate our indebtedness and foreclose on our fleet. The loss of our vessels would mean we could not run our business.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>The market values of our vessels may decrease, which could cause us to breach covenants in our credit and loan facilities, and could
have a material adverse effect on our business, financial condition and results of operations. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our loan agreements,
which are secured by liens on our vessels, contain various financial covenants, including requirements that relate to our financial condition, operating performance and liquidity. For example, we are required to maintain a maximum consolidated
leverage ratio that is based, in part, upon the market value of the vessels securing the applicable loan, as well as a minimum ratio of the market value of vessels securing a loan to the principal amount outstanding under such loan. The market value
of LPG carriers, product carriers and crude oil tankers is sensitive to, among other things, changes in the LPG carrier, product carrier and crude oil tanker charter markets, respectively, with vessel values deteriorating in times when LPG carrier,
product carrier and tanker charter rates, as applicable, are falling and improving when charter rates are anticipated to rise. Lower charter rates in the LPG carrier, product carrier and crude oil tanker markets coupled with the difficulty in
obtaining financing for vessel purchases adversely affected product carrier and Aframax tanker values in the recent past, and the impact of the dramatic decline in oil prices on demand for LPG has adversely affected LPG carrier values since the
fourth quarter of 2014. A continuation of these conditions would lead to a significant decline in the fair market values of our vessels, which may result in our not being in compliance with these loan covenants. If the value of our vessels
deteriorates significantly, we may have to record an impairment adjustment in our financial statements as we did in 2015 and 2014, which would adversely affect our financial results and further hinder our ability to raise capital. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A failure to comply with our covenants and/or obtain covenant waivers or modifications could result in our lenders requiring us to post
additional collateral, enhance our equity and liquidity, increase our interest payments or pay down our indebtedness to a level where we are in compliance with our loan covenants, sell vessels in our fleet or accelerate our indebtedness, which would
impair our ability to continue to conduct our business. If our indebtedness is accelerated, we may not be able to refinance our debt or obtain additional financing and could lose our vessels if our lenders foreclose their liens. In addition, if we
find it necessary to sell our vessels at a time when vessel prices are low, we will recognize losses and a reduction in our earnings, which could affect our ability to raise additional capital necessary for us to comply with our loan agreements.
</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We may be unable to enter into definitive agreements for credit facilities for our five LPG carrier
newbuildings, or to draw down the full amount thereunder if the market values of our vessels decline, which could adversely affect our ability to complete the acquisition of our LPG carrier newbuildings. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have entered into commitment letters for credit facilities for our newbuilding LPG carrier scheduled for delivery in 2016 and two of
our 22,000 cbm LPG carrier newbuildings scheduled to be delivered in 2017, and obtained a term sheet from an international lender, which remains subject to credit committee approval, for credit facilities for our other two 22,000 cbm LPG carrier
newbuildings scheduled to be delivered in 2017. If we are unable to enter into definitive agreements for such credit facilities, we may be unable to obtain replacement financing on terms acceptable to us or at all. In addition, there are
restrictions on the amount of cash that can be advanced to us under these expected credit facilities for our five newbuilding LPG carriers based on the market value and employment of the vessel or vessels in respect of which the advance is being
made. Accordingly, if the market value of our vessels decline, or, in some cases, we are not able to secure suitable employment for our vessels, we may not be able to draw down the full amount of our expected credit facilities, or to obtain other
financing on terms that are acceptable to us or at all. If we are unable to enter into definitive agreements for our expected credit facilities or drawdown the full amount thereunder, our ability to complete the acquisition of our newbuilding LPG
carriers, which we intend to partially finance with borrowings under such credit facilities, could be adversely affected and we could lose the deposits made on such vessels, or we may have to reduce our existing cash balances in order to pay for the
delivery of the vessels. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Global economic conditions and disruptions in world financial markets and the resulting governmental action in
the United States and in other parts of the world could have a material adverse impact on our results of operations, financial condition and cash flows. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Global economic conditions and financial markets have been volatile in recent years and remain subject to significant vulnerabilities, such as the deterioration of fiscal balances and the rapid
accumulation of public debt, continued deleveraging in the banking sector and limited supply of credit. The sovereign debt crisis in countries such as Greece, for example, and concerns over debt levels of certain other European Union member states
and in other countries around the world, as well as concerns about international banks, have led to increased volatility in global credit and equity markets. These issues, along with the re-pricing of credit risk and the difficulties currently
experienced by financial institutions, have made, and will likely continue to make, it difficult to obtain financing. As a result of the disruptions in the credit markets and higher capital requirements, many lenders have increased margins on
lending rates, enacted tighter lending standards, required more restrictive terms (including higher collateral ratios for advances, shorter maturities and smaller loan amounts), or refused to refinance existing debt on terms similar to our current
debt or at all. Furthermore, certain banks that have historically been significant lenders to the shipping industry reduced or ceased lending activities in the shipping industry. New banking regulations, including tightening of capital requirements
and the resulting policies adopted by lenders, could further reduce lending activities. We may experience difficulties obtaining financing commitments or be unable to fully draw on the capacity under our committed credit facilities in the future or
refinance our credit facilities when our current facilities mature if our lenders are unwilling to extend financing to us or unable to meet their funding obligations due to their own liquidity, capital or solvency issues. We cannot be certain that
financing will be available on acceptable terms or at all. In the absence of available financing, we also may be unable to take advantage of business opportunities or respond to competitive pressures. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We currently maintain all of our cash and cash equivalents with a limited number of financial institutions, including financial institutions
located in Greece, which subjects us to credit risk. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We currently maintain all of our cash and cash equivalents with a
limited number of financial institutions located in the United Kingdom, Germany, France, The Netherlands, Luxembourg and Greece. Those financial institutions located in Greece may be subsidiaries of international banks or Greek financial
institutions. Economic conditions in Greece have been, and continue to be, severely disrupted and volatile, and as a result of sovereign weakness, continued recession and fragile political stability, as well as the deposit and debt ratings of
</FONT></P>
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several Greek banks that reflect their weakening stand-alone financial strength and the anticipated additional pressures stemming from the country&#146;s challenged economic prospects. In
addition, in 2015, Greece implemented capital controls restricting the transfer of funds out of Greece, which could restrict our uses of the limited amount of cash we hold in Greece. We do not expect any of our balances to be covered by insurance in
the event of default by any of these financial institutions. The occurrence of such a default, or in the case of restrictions in capital movements by these institutions or countries, could therefore have a material adverse effect on our business,
financial condition, results of operations and cash flows, and we may lose part or all of our cash that we have deposited with such financial institutions. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our ability to obtain additional debt financing may be dependent on the performance of our then existing charters and the creditworthiness of our charterers. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The actual or perceived credit quality of our charterers, and any defaults by them, may materially affect our ability to obtain the
additional capital resources that we will require in order to purchase additional vessels or may significantly increase our costs of obtaining such capital. Our inability to obtain additional financing at a higher than anticipated cost or at all may
materially affect our results of operation and our ability to implement our business strategy. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>A significant increase in our debt
levels may adversely affect us and our cash flows. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of December&nbsp;31, 2015 we had outstanding indebtedness, net
of capitalized arrangement fees of $422.2 million. As of April&nbsp;1, 2016 we expected to incur further indebtedness as we finance the remaining purchase price of our five contracted vessels and further expand our fleet. This increase in the level
of indebtedness and the need to service the indebtedness may impact our profitability and cash available for growth of our fleet, working capital and dividends if any. Additionally, any increase in the present low interest rate levels may increase
the cost of servicing our indebtedness with similar results. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">To finance our future fleet expansion program beyond our current
fleet, including our contracted vessels, we expect to incur additional secured debt. We have to dedicate a portion of our cash flow from operations to pay the principal and interest on our debt. These payments limit funds otherwise available for
working capital, capital expenditures, and other purposes, including any distributions of cash to our stockholders, and our inability to service our debt could lead to acceleration of our debt and foreclosure on our fleet. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Moreover, carrying secured indebtedness exposes us to increased risks if the demand for LPG, oil or oil-related marine transportation
decreases and charter rates and vessel values are adversely affected. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We are exposed to volatility in the London Interbank Offered Rate
(&#147;LIBOR&#148;). </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The amounts outstanding under our senior secured credit facilities have been, and we expect
borrowings under additional credit facilities we have entered into and may enter into in the future will generally be, advanced at a floating rate based on LIBOR, which has been stable, but volatile in prior years, which can affect the amount of
interest payable on our debt, and which, in turn, could have an adverse effect on our earnings and cash flow. In addition, in recent years, LIBOR has been at relatively low levels, and may rise in the future as the current low interest rate
environment comes to an end. Our financial condition could be materially adversely affected at any time that we have not entered into interest rate hedging arrangements to hedge our exposure to the interest rates applicable to our credit facilities
and any other financing arrangements we may enter into in the future, including those we enter into to finance a portion of the amounts payable with respect to newbuildings. As of December&nbsp;31, 2015, we had 22% of our loan exposure under
interest rate swap arrangements. Even if we have entered into interest rate swaps or other derivative instruments for purposes of managing our interest rate exposure, our hedging strategies may not be effective and we may incur substantial losses.
</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>The derivative contracts we have entered into to hedge our exposure to fluctuations in interest rates
and foreign currency exchange rates could result in higher than market interest rates and charges against our income, as well as reductions in our stockholders&#146; equity. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have entered into interest rate swaps for purposes of managing our exposure to fluctuations in interest rates applicable to
indebtedness under our credit facilities which were advanced at floating rates based on LIBOR. Our hedging strategies, however, may not be effective and we may incur substantial losses if interest rates or currencies move materially differently from
our expectations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">To the extent our interest rate swaps do not qualify for treatment as hedges for accounting purposes, which
as of April&nbsp;1, 2016 had an aggregate notional amount of nil, we recognize fluctuations in the fair value of such contracts in our statement of income. In addition, changes in the fair value of any derivative contracts that do qualify for
treatment as hedges, which as of April&nbsp;1, 2016 had an aggregate notional amount of $66.4 million, are recognized in &#147;Other Comprehensive Income&#148; on our balance sheet, and can affect compliance with covenant requirements in our credit
facilities. Our financial condition could also be materially adversely affected to the extent we do not hedge our exposure to interest rate fluctuations under our financing arrangements under which loans have been advanced at a floating rate based
on LIBOR. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, we have in the past and may in the future enter into foreign currency derivative contracts in order to
hedge an exposure to foreign currencies related to shipbuilding contracts. We recognize fluctuations in the fair value of such contracts in our statement of income. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Any hedging activities we engage in may not effectively manage our interest rate and foreign exchange exposure or have the desired impact on our financial conditions or results of operations. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Because we generate all of our revenues in U.S. dollars but incur a portion of our expenses in other currencies, exchange rate fluctuations could
adversely affect our results of operations. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We generate all of our revenues in U.S. dollars and the majority of our
expenses are also in U.S. dollars. However, a small portion of our overall expenses, mainly executive compensation, is incurred in Euros. This could lead to fluctuations in net income due to changes in the value of the U.S. dollar relative to the
other currencies, in particular the Euro. Expenses incurred in foreign currencies against which the U.S. dollar falls in value can thereby increase, decreasing our net income. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>We are dependent on our relationship with Stealth Maritime Corporation S.A. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;1, 2016, Stealth Maritime Corporation S.A. (&#147;Stealth Maritime&#148;) served as commercial manager for all 55 operating vessels in our fleet and technical manager for 34 of the 41
operating vessels in our fleet not deployed on bareboat charters, while subcontracting the technical management of the remaining seven vessels in our fleet not deployed on bareboat charters to Brave Maritime, which is affiliated with Stealth
Maritime. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are accordingly dependent upon our fleet manager, Stealth Maritime, for: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the administration, chartering and operations supervision of our fleet; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our recognition and acceptance as owners of LPG, product and crude oil carriers, including our ability to attract charterers;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">relations with charterers and charter brokers; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">operational expertise; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">management experience. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The loss of Stealth Maritime&#146;s services or its failure to perform its obligations to us properly for financial or other reasons could materially and adversely affect our business and the results of
our operations. Although we </FONT></P>
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may have rights against Stealth Maritime if it defaults on its obligations to us, you would have no recourse against Stealth Maritime. In addition, we might not be able to find a replacement
manager on terms as favorable as those currently in place with Stealth Maritime. Further, we expect that we will need to seek approval from our lenders to change our manager. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>We depend on third party managers to manage part of our fleet. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stealth Maritime subcontracts the technical management for some of our vessels to third parties, including crewing, operation, maintenance
and repair. The loss of their services or their failure to perform their obligations could materially and adversely affect the results of our operations. Although we may have rights against these managers if they default on their obligations, you
would have no recourse against these parties. In addition, we might not be able to find replacement technical managers on terms as favorable as those currently in place. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>We may enter into certain significant transactions with companies affiliated with members of the Vafias family which may result in conflicts of interests. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition to our management contract with Stealth Maritime, a company controlled by other members of the Vafias family, of which our
Chief Executive Officer is a member, we may enter into other transactions with companies affiliated with members of the Vafias family such as the two charters we entered into in April 2012 and the agreements for the acquisition of four newbuilding
LPG carriers in September 2012. Such transactions could create conflicts of interest that could adversely affect our business or your interests as holders of our common stock, as well as our financial position, results of operations and our future
prospects. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our directors and officers may in the future hold direct or indirect interests in companies that compete with us.
</I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our directors and officers each have a history of involvement in the shipping industry and may in the future, directly
or indirectly, hold investments in companies that compete with us. In that case, they may face conflicts between their own interests and their obligations to us. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Companies affiliated with us, including Stealth Maritime and Brave Maritime, may manage or acquire vessels that compete with our fleet. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">It is possible that Stealth Maritime or companies affiliated with Stealth Maritime, including Brave Maritime, could, in the future, agree
to manage vessels that compete directly with ours. As long as Stealth Maritime (or an entity with respect to which Harry N. Vafias is an executive officer, director or the principal shareholder) is our fleet manager or Harry Vafias is an executive
officer or director of the Company, Stealth Maritime has granted us a right of first refusal to acquire any LPG carrier, which Stealth Maritime may acquire in the future. In addition, Stealth Maritime has agreed that it will not charter-in any LPG
carrier without first offering the opportunity to charter-in such vessel to us. Our President and Chief Executive Officer, Harry N. Vafias, has granted us an equivalent right with respect to any entity that he is an executive officer, director or
principal shareholder of, so long as he is an executive officer or a director of our company. Were we, however, to decline any such opportunity offered to us or if we do not have the resources or desire to accept any such opportunity, Stealth
Maritime or the entity controlled by Mr.&nbsp;Vafias could retain and manage the vessel. This right of first refusal does not cover product carriers or crude oil tankers. In addition, these restrictions, including the right of first refusal, do not
apply to Brave Maritime. Furthermore, this right of first refusal does not prohibit Stealth Maritime from managing vessels owned by unaffiliated third parties in competition with us. In such cases, they could compete with our fleet and may face
conflicts between their own interests and their obligations to us. In the future, we may also consider further diversifying into wet, dry or other gas shipping sectors, which, like product carriers and crude oil tankers, are not covered by this
right of first refusal agreement. Any such vessels would be in competition with Stealth Maritime and companies affiliated with Stealth Maritime. Stealth Maritime might be </FONT></P>
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faced with conflicts of interest with respect to their own interests and their obligations to us that could adversely affect our business and your interests as stockholders. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>As our fleet has grown in size, we have needed to improve our operations and financial systems, staff and crew; if we cannot maintain these systems
or continue to recruit suitable employees, our business and results of operations may be adversely affected. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have
significantly expanded our fleet since our initial public offering in October 2005, and as a consequence of this, Stealth Maritime has invested considerable sums in upgrading its operating and financial systems, as well as hiring additional
well-qualified personnel to manage the vessels now managed by Stealth Maritime. In addition, as we have expanded our fleet, we have had to rely on our technical managers to recruit suitable additional seafarers and ashore administrative and
management personnel. Stealth Maritime and those technical managers may not be able to continue to hire suitable employees to the extent we continue to expand our fleet. Our vessels, in particular our LPG carriers, require a technically skilled
staff with specialized training. If the technical managers&#146; crewing agents are unable to employ such technically skilled staff, they may not be able to adequately staff our vessels. If Stealth Maritime is unable to operate our financial and
operations systems effectively or our technical managers are unable to recruit suitable employees as we expand our fleet, our results of operation and our ability to expand our fleet may be adversely affected. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Delays in the delivery of our LPG carriers under construction or any secondhand LPG carriers we agree to acquire could harm our operating results.
</I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;1, 2016, we had agreed to acquire five newbuilding eco LPG carriers under construction to be
delivered to us in 2016 and 2017 upon their completion by South Korean and Japanese shipyards. Delays in the delivery of these vessels, or any additional newbuilding or secondhand vessels we may agree to acquire, would delay our receipt of revenues
generated by these vessels and, to the extent we have arranged charter employment for these vessels, could possibly result in the cancellation of those charters, and therefore adversely affect our anticipated results of operations. Although this
would delay our funding requirements for the installment payments to purchase these vessels, it would also delay our receipt of revenues under any charters we arrange for such vessels. The delivery of newbuilding vessels could be delayed because of,
among other things: work stoppages or other labor disturbances; bankruptcy or other financial crisis of the shipyard building the vessel; hostilities or political or economic disturbances in the countries where the vessels are being built, including
any escalation of recent tensions involving North Korea; weather interference or catastrophic event, such as a major earthquake, tsunami or fire; our requests for changes to the original vessel specifications; requests from our customers, with whom
we have arranged charters for such vessels, to delay construction and delivery of such vessels due to weak economic conditions and shipping demand and a dispute with the shipyard building the vessel. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, the refund guarantors under the newbuilding contracts, which are banks, financial institutions and other credit agencies,
may also be affected by financial market conditions in the same manner as our lenders and, as a result, may be unable or unwilling to meet their obligations under their refund guarantees. If the shipbuilders or refund guarantors are unable or
unwilling to meet their obligations to the sellers of the vessels, this may impact our acquisition of vessels and may materially and adversely affect our operations and our obligations under our credit facilities. Moreover, because we have agreed to
acquire some of the LPG carriers under construction as &#147;resales,&#148; we do not have any direct contractual rights under the construction contracts, but rather have agreements with the seller that ordered the construction of such vessels and
must rely on the seller to pursue its rights under the construction contract. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The delivery of any secondhand vessels could be
delayed because of, among other things, hostilities or political disturbances, non-performance of the purchase agreement with respect to the vessels by the seller, our inability to obtain requisite permits, approvals or financing or damage to or
destruction of the vessels while being operated by the seller prior to the delivery date. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>If we fail to manage our growth properly, we may not be able to successfully expand our market share.
</I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As and when market conditions permit, we intend to continue to prudently grow our fleet over the long term, including
through the acquisition of the five vessels for which we have contracted. The acquisition of these and additional vessels could impose significant additional responsibilities on our management and staff, and may necessitate that we, and they,
increase the number of personnel. In the future, we may not be able to identify suitable vessels, acquire vessels on advantageous terms or obtain financing for such acquisitions. Any future growth will depend on: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">locating and acquiring suitable vessels; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">identifying and completing acquisitions or joint ventures; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">integrating any acquired business successfully with our existing operations; </FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">expanding our customer base; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">obtaining required financing. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Growing a business by acquisition presents numerous risks such as undisclosed liabilities and obligations, difficulty in obtaining additional qualified personnel, managing relationships with customers and
our commercial and technical managers and integrating newly acquired vessels into existing infrastructures. We may not be successful in executing any growth initiatives and may incur significant expenses and losses in connection therewith.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We may decide to sell certain of the vessels in our fleet if in our view market conditions are favorable for such sales or sell our LPG
carriers in our fleet that are subject to purchase options held by the charterers of the respective vessels, which, if exercised, could reduce the size of our LPG carrier fleet and reduce our future revenues. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Since our initial public offering through December&nbsp;31, 2015 we have sold 20 LPG carriers from our fleet and we may decide to sell
more vessels from our fleet if, in our view, the market conditions are favorable for such sales. The chartering arrangements with respect to six LPG carriers of our fleet include options for the respective charterers to purchase the vessels at
stipulated prices at any time during the term of the existing charter for the respective vessels. The option exercise prices with respect to these vessels decline over time and reflect an estimate, made at the time of entry into the applicable
charter in the first quarter of 2014, of market prices. In addition, the chartering arrangements for three LPG carriers in our fleet give the charterer the right to purchase the respective vessel at the end of the current charter term in 2021 and
2022. This might result in our company realizing losses or gains depending on the time each vessel option is exercised. If the charterers were to exercise these options with respect to any or all of these vessels or if we sell additional vessels,
the expected size of our LPG carrier fleet would be reduced and, if there were a scarcity of secondhand LPG carriers available for acquisition at such time and because of the delay in delivery associated with commissioning newbuilding LPG carriers,
we could be unable to replace these vessels with other comparable vessels, or any other vessels, quickly or, if LPG carriers values were higher than currently anticipated at the time we were required to sell these vessels, at a cost equal to the
purchase price paid by the charterer. Consequently, if we sell additional vessels or if these purchase options were to be exercised, the expected size of our LPG carrier fleet would be reduced, and as a result our anticipated level of revenues would
be reduced. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We may be unable to attract and retain key management personnel and other employees in the shipping industry, which may
negatively affect the effectiveness of our management and our results of operation. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our success depends to a
significant extent upon the abilities and efforts of our management team, including our Chief Executive Officer, Harry Vafias. In addition, Harry Vafias is a member of the Vafias family, which controls Stealth Maritime, our fleet manager. Our
success will depend upon our and Stealth Maritime&#146;s ability to hire and retain qualified managers to oversee our operations. The loss of any of these individuals could adversely </FONT></P>
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affect our business prospects and financial condition. Difficulty in hiring and retaining personnel could adversely affect our results of operations. We do not have employment agreements directly
with our key personnel who are technically employees of Stealth Maritime, our fleet manager, although under our management agreement with Stealth Maritime, our relationship is governed by terms substantially similar to those typically included in
employment agreements. We do not maintain &#147;key man&#148; life insurance on any of our officers. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>In the highly competitive
international LPG carrier, product carrier and crude oil tanker markets, we may not be able to compete for charters with new entrants or established companies with greater resources. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We deploy our vessels in highly competitive markets that are capital intensive. Competition arises primarily from other vessel owners,
some of which have greater resources than we do. Competition for the transportation of LPG, refined petroleum products and crude oil can be intense and depends on price, location, size, age, condition and the acceptability of the vessel and its
managers to the charterers. Competitors with greater resources could enter and operate larger LPG carrier fleets through consolidations or acquisitions, and many larger fleets that compete with us in each of these sectors may be able to offer more
competitive prices and fleets. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We have three medium range product carriers and one Aframax crude oil tanker; however, we principally
operate LPG carriers and our lack of a diversified business could adversely affect us. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Unlike many other shipping
companies, which may carry dry bulk, crude oil, oil products or products or goods shipped in containers, we currently depend primarily on the transport of LPG. The vast majority of our revenue has been and is expected to be derived from this single
source&#151;the seaborne transport of LPG. Due to our lack of a more diversified business model, adverse developments in the seaborne transport of LPG and the market for LPG products have a significantly greater impact on our financial conditions
and results of operations than if we maintained more diverse assets or lines of business. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We have expanded into the product carrier
sector and into the crude oil tanker sector and we may not be able to successfully execute this expansion, or any further expansion, in such sectors or any other sectors, such as dry or other wet or gas shipping sectors we choose to expand into,
which could have an adverse effect on our business, results of operation and financial condition. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have expanded
into the product carrier sector with the acquisition of three medium range product carriers and into the crude oil tanker sector with one Aframax tanker. In the future, we may further expand in these sectors or into dry or other wet or other gas
shipping sectors if opportunities arise. We have limited experience in these sectors, including the product carrier and crude oil tanker sectors, and an inability to successfully execute our recent expansion into these sectors or any such future
expansion plans could: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">be costly; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">distract us from our LPG carrier business; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">divert management resources, </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">each of which could have an adverse effect on our business, results of operation and financial condition. We may also from time to time consider various alternatives for our product carriers and crude oil
tankers that could involve the sale of all or a portion of our interest in these vessels and sectors. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Purchasing and operating
previously owned, or secondhand, vessels may result in increased operating costs and vessels off-hire, which could adversely affect our revenues. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our examination of secondhand vessels, which may not include physical inspection prior to purchase, does not provide us with the same knowledge about their condition and cost of any required (or
anticipated) repairs that we would have had if these vessels had been built for and operated exclusively by us. Generally, we do not receive the benefit of warranties on secondhand vessels. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In general, the cost of maintaining a vessel in good operating condition increases with its
age. As of April&nbsp;1, 2016, the average age of the vessels in our fleet, including chartered in vessels, was approximately 9.3 years. Older vessels are typically less fuel efficient and more costly to maintain and operate than more recently
constructed vessels due to improvements in engine technology. Cargo insurance rates increase with the age of a vessel, making older vessels less desirable to charterers. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Governmental regulations, safety or other equipment standards related to the age of vessels may require expenditures for alterations, or the addition of new equipment, to our vessels and may restrict the
type of activities in which the vessels may engage. As our vessels age, market conditions may not justify those expenditures or enable us to operate our vessels profitably during the remainder of their useful lives. If we sell vessels, the sales
prices may not equal and could be less than their carrying values at that time. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>The shipping industry has inherent operational risks
that may not be adequately covered by our insurance. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We procure hull and machinery insurance, protection and indemnity
insurance, which include environmental damage and pollution insurance coverage, and war risk insurance for our fleet. While we endeavor to be adequately insured against all known risks related to the operation of our ships, there remains the
possibility that a liability may not be adequately covered and we may not be able to obtain adequate insurance coverage for our fleet in the future. The insurers may also not pay particular claims. Even if our insurance coverage is adequate, we may
not be able to timely obtain a replacement vessel in the event of a loss. Our insurance policies contain deductibles for which we will be responsible and limitations and exclusions which may increase our costs or lower our revenue. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our major stockholder exerts considerable influence on the outcome of matters on which our stockholders are entitled to vote and his interests may
be different from yours. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our major stockholder, our Chief Executive Officer, including through a company he controls,
owns approximately 11.1% of our outstanding common stock as of April&nbsp;1, 2016 and exerts considerable influence on the outcome of matters on which our stockholders are entitled to vote, including the election of our Board of Directors and other
significant corporate actions. The interests of this stockholder may be different from your interests. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We may have to pay tax on United
States-source income, which would reduce our earnings. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the United States Internal Revenue Code of 1986, as
amended, or the Code, 50% of the gross shipping income of vessel owning or chartering corporations, such as our subsidiaries, that is attributable to transportation that begins or ends, but does not both begin and end, in the United States is
characterized as United States-source shipping income. United States-source shipping income is subject to either a (i)&nbsp;4% United States federal income tax without allowance for deductions or (ii)&nbsp;taxation at the standard United States
federal income tax rates (and potentially to a 30% branch profits tax), unless derived by a corporation that qualifies for exemption from tax under Section&nbsp;883 of the Code and the Treasury Regulations promulgated thereunder. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Generally, we and our subsidiaries will qualify for this exemption for a taxable year if our shares are treated as &#147;primarily and
regularly traded&#148; on an established securities market in the United States. Our shares of common stock will be so treated if (i)&nbsp;the aggregate number of our shares of common stock traded during such year on an established securities market
in the United States exceeds the aggregate number of our shares of common stock traded during that year on established securities markets in any other single country, (ii)&nbsp;either (x)&nbsp;our shares of common stock are regularly quoted during
such year by dealers making a market in our shares or (y)&nbsp;trades in our shares of common stock are effected, other than in de minimis quantities, on an established securities market in the United States on at least 60 days during such taxable
year and the aggregate number of our shares of common stock traded on an established securities market in the United States during such year equals at least 10% of the average number of our shares of common stock outstanding during such taxable year
</FONT></P>
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and (iii)&nbsp;our shares of common stock are not &#147;closely held&#148; during such taxable year. For these purposes, our shares of common stock will be treated as closely held during a
taxable year if, for more than one-half the number of days in such taxable year, one or more persons each of whom owns either directly or under applicable attribution rules, at least 5% of our shares of common stock, own, in the aggregate, 50% or
more of our shares of common stock, unless we can establish, in accordance with applicable documentation requirements, that a sufficient number of the shares of common stock in the closely-held block are owned, directly or indirectly, by persons
that are residents of foreign jurisdictions that provide United States shipping companies with an exemption from tax that is equivalent to that provided by Section&nbsp;883 to preclude other stockholders in the closely-held block from owning 50% or
more of the closely-held block of shares of common stock. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We believe that it is currently the case, and may also be the case
in the future, that, one or more persons each of whom owns, either directly or under applicable attribution rules, at least 5% of our shares of common stock own, in the aggregate, 50% or more of our shares of common stock. In such circumstances, we
and our subsidiaries may qualify for the exemption provided in Section&nbsp;883 of the Code only if a sufficient number of shares of the closely-held block of our shares of common stock were owned or treated as owned by &#147;qualified
stockholders&#148; so it could not be the case that, for more than half of the days in the taxable year, the shares of common stock in the closely-held block not owned or treated as owned by qualified stockholders represented 50% or more of our
shares of common stock. For these purposes, a &#147;qualified stockholder&#148; includes an individual that owns or is treated as owning shares of our common stock and is a resident of a jurisdiction that provides an exemption that is equivalent to
that provided by Section&nbsp;883 of the Code and certain other persons; provided in each case that such individual or other person complies with certain documentation and certification requirements set forth in the Section&nbsp;883 regulations and
designed to establish status as a qualified stockholder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Chief Executive Officer, who beneficially owned approximately
11.1% of our shares of common stock as of April&nbsp;1, 2016, has entered into an agreement with us regarding his compliance, and the compliance by certain entities that he controls and through which he owns our shares, with the certification
procedures designed to establish status as a qualified stockholder. In certain circumstances, his compliance and the compliance of such entities he controls with the terms of that agreement may enable us and our subsidiaries to qualify for the
benefits of Section&nbsp;883 even where persons (each of whom owns, either directly or under applicable attribution rules, 5% or more of our shares) own, in the aggregate, more than 50% of our outstanding shares. However, his compliance and the
compliance of such entities he controls with the terms of that agreement may not enable us or our subsidiaries to qualify for the benefits of Section&nbsp;883. We or any of our subsidiaries may not qualify for the benefits of Section&nbsp;883 for
any year. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If we or our subsidiaries do not qualify for the exemption under Section&nbsp;883 of the Code for any taxable year,
then we or our subsidiaries would be subject for those years to the 4% United States federal income tax on gross United States shipping income or, in certain circumstances, to net income taxation at the standard United States federal income tax
rates (and potentially also to a 30% branch profits tax). The imposition of such tax could have a negative effect on our business and would result in decreased earnings available for distribution to our stockholders. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We could become a &#147;passive foreign investment company,&#148; which would have adverse United States federal income tax consequences to United
States holders and, in turn, us. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A foreign corporation will be treated as a &#147;passive foreign investment
company,&#148; or PFIC, for United States federal income tax purposes if either (1)&nbsp;at least 75% of its gross income for any taxable year consists of certain types of &#147;passive income&#148; or (2)&nbsp;at least 50% of the average value of
the corporation&#146;s assets produce or are held for the production of those types of &#147;passive income.&#148; For purposes of these tests, &#147;passive income&#148; includes dividends, interest, and gains from the sale or exchange of
investment property and rents and royalties other than rents and royalties which are received from unrelated parties in connection with the active conduct of a trade or business. For purposes of these tests, income derived from the performance of
services does not constitute &#147;passive income&#148; and working capital and similar assets held pending investment in vessels will generally be </FONT></P>
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treated as an asset which produces passive income. United States stockholders of a PFIC are subject to a disadvantageous United States federal income tax regime with respect to the income derived
by the PFIC, the distributions they receive from the PFIC and the gain, if any, they derive from the sale or other disposition of their shares in the PFIC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In connection with determining our PFIC status we treat and intend to continue to treat the gross income that we derive or are deemed to derive from our time chartering and voyage chartering activities as
services income, rather than rental income. We believe that our income from time chartering and voyage chartering activities does not constitute &#147;passive income&#148; and that the assets that we own and operate in connection with the production
of that income do not constitute assets held for the production of passive income. We treat and intend to continue to treat, for purposes of the PFIC rules, the income that we derive from bareboat charters as passive income and the assets giving
rise to such income as assets held for the production of passive income. There is, however, no legal authority specifically under the PFIC rules regarding our current and proposed method of operation and it is possible that the Internal Revenue
Service, or IRS, may not accept our positions and that a court may uphold such challenge, in which case we and certain of our subsidiaries could be treated as PFICs. In this regard we note that a recent federal court decision addressing the
characterization of time charters concludes that they constitute leases for federal income tax purposes and employs an analysis which, if applied to our time charters, could result in our treatment and the treatment of our vessel-owning subsidiaries
as PFICs. In addition, in making the determination as to whether we are a PFIC, we intend to treat the deposits that we make on our newbuilding contracts and that are with respect to vessels we do not expect to bareboat charter as assets which are
not held for the production of passive income for purposes of determining whether we are a PFIC. We note that there is no direct authority on this point and it is possible that the IRS may disagree with our position. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We do not believe that we were a PFIC for 2015. This belief is based in part upon our beliefs regarding the value of the assets that we
hold for the production of or in connection with the production of passive income relative to the value of our other assets. Should these beliefs turn out to be incorrect, then we and certain of our subsidiaries could be treated as PFICs for 2015.
In this regard we note that our beliefs and expectations regarding the relative values of our assets place us close to the threshold for PFIC status, and thus a relatively small deviance between our beliefs and expectations and actual values could
result in the treatment of us and certain of our subsidiaries as PFICs. There can be no assurance that the U.S. Internal Revenue Service (&#147;IRS&#148;) or a court will not determine values for our assets that would cause us to be treated as a
PFIC for 2015 or a subsequent year. In addition, although we do not believe that we were a PFIC for 2015, we may choose to operate our business in the current or in future taxable years in a manner that could cause us to become a PFIC for those
years. Because our status as a PFIC for any taxable year will not be determinable until after the end of the taxable year, and depends upon our assets, income and operations in that taxable year, there can be no assurance that we will not be
considered a PFIC for 2016 or any future taxable year. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If the IRS were to find that we are or have been a PFIC for any
taxable year, our United States stockholders would face adverse United States tax consequences. Under the PFIC rules, unless those stockholders make an election available under the Code (which election could itself have adverse consequences for such
stockholders, as discussed below under &#147;Item 10. Additional Information&#151;Tax Consequences&#151;United States Federal Income Taxation of United States Holders&#148;), such stockholders would be liable to pay United States federal income tax
at the then prevailing income tax rates on ordinary income plus interest upon excess distributions and upon any gain from the disposition of our shares of common stock, as if the excess distribution or gain had been recognized ratably over the
stockholder&#146;s holding period of our shares of common stock. See &#147;Item 10. Additional Information&#151;Tax Consequences&#151;United States Federal Income Tax Consequences&#151;United States Federal Income Taxation of United States
Holders&#148; for a more comprehensive discussion of the United States federal income tax consequences to United States stockholders if we are treated as a PFIC. As a result of these adverse tax consequences to United States stockholders, such a
finding by the IRS may result in sales of our common stock by United States stockholders, which could lower the price of our common stock and adversely affect our ability to raise capital. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>As a foreign private issuer we are entitled to claim an exemption from certain Nasdaq corporate
governance standards, and if we elected to rely on this exemption, you may not have the same protections afforded to stockholders of companies that are subject to all of the Nasdaq corporate governance requirements. </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a foreign private issuer, we are entitled to claim an exemption from many of Nasdaq&#146;s corporate governance practices other than
the requirements regarding the disclosure of a going concern audit opinion, submission of a listing agreement, notification of material non-compliance with Nasdaq corporate governance practices, and the establishment and composition of an audit and
compensation committee and a formal written audit and compensation committee charter. Currently, our corporate governance practices comply with the Nasdaq corporate governance standards applicable to U.S. listed companies other than that, while
Nasdaq requires listed companies to obtain prior shareholder approval for certain issuances of authorized stock in transactions not involving a public offering, as permitted under Marshall Islands law and our articles of incorporation and bylaws, we
do not need prior shareholder approval to issue shares of authorized stock. To the extent we rely on this exemption for stock issuance or otherwise you may not have the same protections afforded to stockholders of companies that are subject to all
of the Nasdaq corporate governance requirements. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We are incorporated in the Republic of the Marshall Islands, which does not have a
well-developed body of corporate law or a bankruptcy act. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our corporate affairs are governed by our articles of
incorporation and bylaws and by the Marshall Islands Business Corporations Act, or BCA. The provisions of the BCA resemble provisions of the corporation laws of a number of states in the United States. However, there have been few judicial cases in
the Republic of the Marshall Islands interpreting the BCA. The rights and fiduciary responsibilities of directors under the law of the Republic of the Marshall Islands are not as clearly established as the rights and fiduciary responsibilities of
directors under statutes or judicial precedent in existence in certain U.S. jurisdictions. Stockholder rights may differ as well. While the BCA does specifically incorporate the non-statutory law, or judicial case law, of the State of Delaware and
other states with substantially similar legislative provisions, our public stockholders may have more difficulty in protecting their interests in the face of actions by the management, directors or controlling stockholders than would stockholders of
a corporation incorporated in a U.S. jurisdiction. The Marshall Islands has no established bankruptcy act, and as a result, any bankruptcy action involving our company would have to be initiated outside the Marshall Islands, and our public
stockholders may find it difficult or impossible to pursue their claims in such other jurisdictions. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>It may be difficult to enforce
service of process and judgments against us and our officers and directors. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are a Marshall Islands company, and our
executive offices are located outside of the United States. All of our directors and officers reside outside of the United States, and most of our assets and their assets are located outside the United States. As a result, you may have difficulty
serving legal process within the United States upon us or any of these persons. You may also have difficulty enforcing, both in and outside the United States, judgments you may obtain in the U.S. courts against us or these persons in any action,
including actions based upon the civil liability provisions of U.S. federal or state securities laws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">There is also
substantial doubt that the courts of the Marshall Islands would enter judgments in original actions brought in those courts predicated on U.S., federal or state securities laws. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Risks Related To Our Common Stock </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>The market price of our common stock has fluctuated and may continue to fluctuate in the future. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The market price of our common stock has fluctuated widely since our initial public offering in October 2005 and may continue to do so as a result of many factors, including our actual results of
operations and perceived prospects, the prospects of our competition and of the shipping industry in general and in particular the LPG carrier sector, differences between our actual financial and operating results and those expected by investors
</FONT></P>
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and analysts, changes in analysts&#146; recommendations or projections, changes in general valuations for companies in the shipping industry, particularly the LPG carrier sector, changes in
general economic or market conditions and broad market fluctuations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If the market price of our common stock remains below
$5.00 per share, under stock exchange rules, our stockholders will not be able to use such shares as collateral for borrowing in margin accounts. This inability to use shares of our common stock as collateral may depress demand and certain
institutional investors are restricted from investing in or holding shares priced below $5.00, which could lead to sales of such shares creating further downward pressure on and increased volatility in the market price of our common stock.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our Board of Directors suspended the payment of cash dividends as a result of market conditions in the international shipping industry.
</I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In light of the volatile global economic situation, which could reduce the revenues obtained from chartering our
vessels and reduce the market value of our vessels, our Board of Directors decided, in the first quarter of 2009, to suspend dividend payments. As our contracted newbuildings are delivered, paid for and begin to generate revenue, our board of
directors will evaluate our dividend policy consistent with our cash flows and liquidity requirements. In addition, other external factors, such as our existing loan agreements, future financing arrangements and capital expenditures, as well as
Marshall Islands law, may also restrict or prohibit our declaration and payment of dividends under some circumstances. For instance, we are not permitted to declare or pay cash dividends, or repurchase shares, in any twelve month period that exceed
50% of our free cash flow in the preceding twelve month period. Due to these constraints on dividend payments we may not be able to pay regular quarterly dividends in the future. See &#147;Item 5. Operating and Financial Review and
Prospects&#151;Credit Facilities&#151;Financial Covenants.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The declaration and payment of dividends will be subject at
all times to the discretion of our Board of Directors. The timing and amount of future dividends will depend on the state of the LPG carrier markets, our earnings, financial condition, cash requirements and availability, fleet renewal and expansion,
restrictions in our loan agreements or other financing arrangements, the provisions of Marshall Islands law affecting the payment of dividends and other factors. Marshall Islands law generally prohibits the payment of dividends other than from
surplus or while a company is insolvent or would be rendered insolvent upon the payment of such dividends. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Anti-takeover provisions in
our organizational documents and other agreements could make it difficult for our stockholders to replace or remove our current Board of Directors or have the effect of discouraging, delaying or preventing a merger or acquisition, which could
adversely affect the market price of our common stock. </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Several provisions of our amended and restated articles of
incorporation and bylaws could make it difficult for our stockholders to change the composition of our Board of Directors in any one year, preventing them from changing the composition of management. In addition, the same provisions may discourage,
delay or prevent a merger or acquisition that stockholders may consider favorable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">These provisions include: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">authorizing our Board of Directors to issue &#147;blank check&#148; preferred stock without stockholder approval; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">providing for a classified Board of Directors with staggered three-year terms; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">prohibiting cumulative voting in the election of directors; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">authorizing the removal of directors only for cause and only upon the affirmative vote of the holders of 80% of the outstanding shares of our common
stock entitled to vote for the directors; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">limiting the persons who may call special meetings of stockholders; </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">29 </FONT></P>



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<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">establishing advance notice requirements for nominations for election to our Board of Directors or for proposing matters that can be acted on by
stockholders at stockholder meetings; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">prohibiting certain transactions with interested stockholders. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our current loan agreements also require that our Chief Executive Officer, Harry Vafias, together with his immediate family, at all times
own at least 10% of our outstanding capital stock and certain of our loan agreements provide that it would be an event of default if Harry Vafias ceased to serve as an executive officer or director of our company, Harry Vafias together with his
immediate family, ceased to control our company or any other person or group controlled 25% or more of the voting power of our outstanding capital stock. These anti-takeover provisions could substantially impede the ability of public stockholders to
benefit from a change in control and, as a result, may adversely affect the market price of our common stock and your ability to realize any potential change of control premium. </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_6"></A>Item&nbsp;4.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Information on the Company </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>A. History
and Development of the Company </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">StealthGas Inc. was incorporated in December 2004 in the Republic of the Marshall Islands.
Our registered address in the Marshall Islands is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The name of our registered agent at such address is The Trust Company of the Marshall Islands, Inc. Our
principal executive offices are located at 331 Kifissias Avenue, Erithrea 14561 Athens, Greece. Our telephone number for calls originating from the United States is (011)&nbsp;(30)&nbsp;(210)&nbsp;625-0001. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In October 2005, we completed an initial public offering of our common stock in the United States and our common stock began trading on
the Nasdaq National Market and now trade on the Nasdaq Global Select Market under the symbol &#147;GASS&#148;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Prior to the
initial public offering, we owned nine LPG carriers. Since the initial public offering, we acquired an additional 60 LPG carriers, three product carriers and one Aframax crude oil tanker and sold 20 LPG carriers so that as of December&nbsp;31, 2015,
we had a fleet of 51 LPG carriers, including two LPG carriers we charter-in, three product carriers, and one Aframax crude oil tanker. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">During 2015, we took delivery of 10 newbuilding LPG carriers and sold two LPG carriers. As of April&nbsp;1, 2016, we had also taken delivery of one newbuilding LPG carrier in February 2016 and had
agreements to acquire five LPG carriers under construction with expected deliveries in the period from the third quarter of 2016 to the third quarter of 2017. We sold one 1992-built, 3,500 cbm LPG carrier on January&nbsp;21, 2016 for demolition.
Once the delivery of these newbuildings is completed, our fleet will be composed of 56 LPG carriers, including two vessels that are chartered-in which aggregate 14,717 cbm in capacity, with a total capacity of approximately 253,944 cubic meters
(cbm), three medium range product carriers with a total capacity of 140,000 dwt and one 115,804 dwt Aframax tanker, assuming no other acquisitions or disposals. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our company operates through a number of subsidiaries which either directly or indirectly own or charter in the vessels in our fleet. A list of our subsidiaries, including their respective jurisdiction of
incorporation, as of April&nbsp;1, 2016, all of which are wholly-owned by us, is set forth in Exhibit 8 to this Annual Report on Form 20-F. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>B. Business Overview </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We
own a fleet of LPG carriers providing international seaborne transportation services to LPG producers and users, as well as crude oil and product carriers chartered to oil producers, refiners and commodities traders. Our LPG carriers carry various
petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. The three medium range product carriers in our
fleet are capable of carrying refined petroleum </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">30 </FONT></P>



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products such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, while our Aframax tanker is used for carrying crude oil. We believe that we have established a
reputation as a safe, cost-efficient operator of modern and well-maintained LPG carriers. We also believe that these attributes, together with our strategic focus on meeting our customers&#146; chartering needs, has contributed to our ability to
attract leading charterers as our customers and to our success in obtaining charter renewals. We are managed by Stealth Maritime, a privately owned company controlled by other members of the Vafias family, of which our Chief Executive Officer is a
member. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;1, 2016, our fleet consisted of 51 LPG carriers, including two chartered-in LPG carriers, with an
average age of 9.4 years, two 2008-built product carriers, one 2009-built product carrier and one 2010-built Aframax crude oil tanker. We also have agreements to acquire five LPG carriers, which are scheduled to be delivered in the period from the
third quarter of 2016 to the third quarter of 2017. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The table below describes our fleet and its deployment as of
April&nbsp;1, 2016. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>LPG Carriers (51 Vessels) </I></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:20pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year<BR>Built</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel&nbsp;Size<BR>(cbm)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel<BR>Type</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Employment Status</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Expiration of<BR>Charter(1)</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Nical</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,541</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">fully-pressurized</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Cathar(2)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2001</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,517</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">July 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Husky</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2012</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,516</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat&nbsp;Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Esco</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2012</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,514</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Galaxy</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,213</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Chios(3)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2014</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,211</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2022</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Stream(3)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2014</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,210</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">March 2022</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Premiership(2)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2001</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,200</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">October 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Haralambos</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2007</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">July 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Marathon</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1995</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,572</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Moxie</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1992</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,562</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Flawless</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2007</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,337</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Ethereal</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2006</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,036</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">September 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Prodigy</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2003</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,031</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">April 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Enigma</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,025</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Universe</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,025</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">August 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Czar</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">August 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Nemesis</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,019</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Monarch</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1997</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Defiance</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2008</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2018</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Shuriken</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2008</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">October 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Elixir</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2011</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">February 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Cerberus</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2011</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Myth</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2011</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Inspiration</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2006</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">August 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Invictus</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2014</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">September 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Nirvana</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1996</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,014</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Icon</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1994</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,012</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Emperor</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1994</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,009</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Texiana .</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1995</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,001</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">July 2016</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Green(4)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,991</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">November 2020</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Dream(4)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,989</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">September&nbsp;2020</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Sincerity(3)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2000</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,129</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">September 2018</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Spirit</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2001</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,112</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Zael(3)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2001</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,111</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">February 2018</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Sikousis</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2006</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,586</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">May 2016</FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">31 </FONT></P>



<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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<TD></TD>
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<TD></TD>
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<TD></TD></TR>

<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:20pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year<BR>Built</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel&nbsp;Size<BR>(cbm)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel<BR>Type</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Employment Status</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Expiration of<BR>Charter(1)</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Loyalty(5)(6)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,529</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2022</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Elysium(5)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2014</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,526</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">September 2021</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Royalty(5)(6)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,525</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">April 2022</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Corsair</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2014</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,524</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Lucidity</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,517</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Evoluzione</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1996</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,517</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Imperiale</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2008</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,515</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">December 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Legacy</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1998</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,514</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Astrid(3)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2009</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,514</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">April 2022</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Enchanted</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2006</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,514</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Exelero(3)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2009</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,513</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">June 2022</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Alice</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2006</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,513</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Ice</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1991</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,436</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">semi-refrigerated</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">May 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Galaxy</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1997</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,312</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2018</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Gas Pasha</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1995</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,310</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Spot</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>253,944&nbsp;cbm</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Earliest date charters could expire. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel chartered-in by us under a bareboat charter scheduled to expire in the fourth quarter of 2018. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Subject to a purchase option pursuant to which the charterer may purchase such vessel at any time during the charter at a price that declines over time by an agreed
annual amount or pro-rated from the agreed value of the vessel at the time of entering into the charter in the first quarter of 2014. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charterer has option to extend charter for an additional year. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Subject to purchase option pursuant to which charterer may purchase such vessel at the end of the charter at the price agreed at the time of entering into the
agreement. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charterer has option to extend charter for an additional three-year period. </FONT></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Contracted Newbuilding LPG Carriers (5 Vessels) </I></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:20pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel Size<BR>(cbm)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel Type</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Scheduled&nbsp;Delivery</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>To be named</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">semi-refrigerated</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Q1&nbsp;2017</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>To be named</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">semi-refrigerated</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Q2 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>To be named</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">semi-refrigerated</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Q2 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>To be named</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">semi-refrigerated</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Q3 2017</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Eco Dominator(1)</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,200</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">fully-pressurized</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Q3 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>95,200&nbsp;cbm</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total LPG Carrier Fleet:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>56&nbsp;vessels</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>349,144&nbsp;cbm</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Scheduled to commence an 18-month time charter upon delivery from the shipyard. </FONT></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Product Carriers/Crude Oil Tanker (4 Vessels) </I></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:20pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year<BR>Built</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel&nbsp;Size<BR>(dwt)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel<BR>Type</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Employment<BR>Status</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Expiration&nbsp;of<BR>Charter(1)</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Navig8 Fidelity</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2008</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">47,000</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">MR&nbsp;product&nbsp;carrier</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat&nbsp;Charter</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2017</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Navig8 Faith</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2008</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">47,000</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">MR product carrier</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;2019</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Stealth Bahla</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2009</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">46,000</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">MR product carrier</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Time Charter</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">July 2016</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Spike</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2010</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">115,804</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aframax oil tanker</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bareboat Charter</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">February 2018</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>255,804&nbsp;dwt</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Earliest date charters could expire. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">32 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Commercial and Technical Management of Our Fleet </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have a management agreement with Stealth Maritime, pursuant to which Stealth Maritime provides us with technical, administrative,
commercial and certain other services. Stealth Maritime is a leading ship-management company based in Greece, established in 1999 in order to provide shipping companies with a range of services. Our manager&#146;s safety management system is ISM
certified in compliance with IMO&#146;s regulations by Lloyd&#146;s Register. In relation to the technical services, Stealth Maritime is responsible for arranging for the crewing of the vessels, the day to day operations, inspections and vetting,
maintenance, repairs, drydocking and insurance. Administrative functions include but are not limited to accounting, back-office, reporting, legal and secretarial services. In addition, Stealth Maritime provides services for the chartering of our
vessels and monitoring thereof, freight collection, and sale and purchase. In providing most of these services, Stealth Maritime pays third parties and receives reimbursement from us. In addition, Stealth Maritime may subcontract technical
management and crew management for some of our vessels to third parties, including Selandia, a ship management company based in Singapore and Manila, Southfield Agencies, based in Manila and Brave Maritime (an affiliate of Stealth Maritime) based in
Greece. These three technical managers are supervised by Stealth Maritime. As of April&nbsp;1, 2016, the technical management of seven of our ships was subcontracted by Stealth Maritime to Brave Maritime. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the November 2006 agreement, which was amended effective January&nbsp;1, 2007, as approved by our Board of Directors, including all
of our independent directors, we pay Stealth Maritime a fixed management fee of $440 per vessel operating under a voyage or time charter per day on a monthly basis in advance, pro-rated for the calendar days we own the vessels. We pay a fixed fee of
$125 per vessel per day for each of our vessels operating on bareboat charter. We are also obligated to pay Stealth Maritime a fee equal to 1.25% of the gross freight, demurrage and charter hire collected from the employment of our vessels. Stealth
Maritime will also earn a fee equal to 1.0% of the contract price of any vessel bought or sold by them on our behalf. In addition, as long as Stealth Maritime (or an entity with respect to which Harry N. Vafias is an executive officer, director or
the principal shareholder) is our fleet manager or Harry N. Vafias is an executive officer or director of the Company, Stealth Maritime has granted us a right of first refusal to acquire any LPG carrier which Stealth Maritime may acquire in the
future. In addition, Stealth Maritime has agreed that it will not charter-in any LPG carrier without first offering the opportunity to charter-in such vessels to us. This right of first refusal does not prohibit Stealth Maritime from managing
vessels owned by unaffiliated third parties in competition with us, nor does it cover product carriers or crude oil tankers. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The initial term of our management agreement with Stealth Maritime expired in June 2010; however, unless six months&#146; notice of
non-renewal is given by either party prior to the end of the then current term, this agreement automatically extends for additional 12 month periods. No such notice has been given, and accordingly, this agreement will extend to June 2017.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For additional information about the management agreement, including the calculation of management fees, see &#147;Item 7.
Major Shareholders and Related Party Transactions&#148; and our consolidated financial statements which are included as Item&nbsp;18 to this Annual Report. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Crewing and Employees </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stealth Maritime ensures that all seamen have the
qualifications and licenses required to comply with international regulations and shipping conventions, and that our vessels employ experienced and competent personnel. In 2015 Selandia crew management, Southfield agencies and PTC, each of which is
based in the Philippines, were responsible for providing the crewing of the LPG fleet, to the extent that these vessels are not deployed on bareboat charters. These responsibilities include training, compensation, transportation and insurance of the
crew. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Chartering of the Fleet </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We, through Stealth Maritime, manage the employment of our fleet. We deploy our LPG carriers and tankers on period charters, including time and bareboat charters that can last up to several years, and
spot market charters (through voyage charters and short-term time charters), which generally last from one to six months, subject to market conditions. Time and bareboat charters are for a fixed period of time. A voyage charter is
</FONT></P>
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generally a contract to carry a specific cargo from a loading port to a discharging port for an agreed-upon total charge. Under voyage charters we pay for voyage expenses such as port, canal and
fuel costs. Under a time charter the charterer pays for voyage expenses while under a bareboat charter the charterer pays for voyage expenses and operating expenses such as crewing, supplies, maintenance and repairs including special survey and
dry-docking costs. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels operating in the spot market generate revenues that are less predictable but may enable us to
capture increased profit margins during periods of improvements in LPG charter rates, although we are then exposed to the risk of declining LPG carrier charter rates. Typically spot market charters can last from a few days up to two months. If we
commit vessels to period charters, future spot market rates may be higher or lower than those rates at which we have period chartered our vessels. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In formulating our chartering strategy we evaluate past, present and future performance of the freight markets and balance the mix of our chartering arrangements in order to achieve optimal results for
the fleet. As of April&nbsp;1, 2016 and including our two chartered in vessels, we had 13 LPG carriers operating in the spot market, 15 vessels on time charters expiring in 2016, 13 on time charters expiring from 2017 to 2020 and 14 on bareboat
charters expiring from 2016 to 2022. In terms of charter coverage as of April&nbsp;1, 2016, we had 62% of the available calendar days fixed under period charters for 2016, and 32% for 2017; in each case excluding the five LPG carriers, one to be
delivered in the third quarter of 2016 and four in 2017 that we have contracted to acquire. We have not yet arranged employment for the four vessels scheduled to be delivered in 2017. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">While the majority of our fleet is operating in the Far East, we deploy vessels globally. Some of the areas where we usually operate are
the Middle East, the Mediterranean, North West Europe and Latin America. According to industry reports the United States may increase its exports of LPG products in the near future. In the event this creates more demand for vessels like ours, we
would expect to deploy more vessels in the United States and the Caribbean. As freight rates usually vary between these areas as well as voyage and operating expenses, we evaluate such parameters when positioning our vessels for new employment.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Customers </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our assessment of a charterer&#146;s financial condition and reliability is an important factor in negotiating employment for our vessels.
Principal charterers include producers of LPG products, such as national, major and other independent energy companies and energy traders, and industrial users of those products. For the year ended December&nbsp;31, 2015, we had 55 customers, with
one customer accountable for more than 10% of our total revenues, generating 13% of the total revenues. In addition, vessels under bareboat charter may be sub-chartered to third parties. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Environmental and other Regulations </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Government regulations significantly
affect the ownership and operation of our vessels. They are subject to international conventions and national, state and local laws and regulations in force in the countries in which they may operate or are registered. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A variety of governmental and private entities subject our vessels to both scheduled and unscheduled inspections. These entities include
the local port authorities (United States Coast Guard, harbor master or equivalent), classification societies, flag state administration (country of registry), charterers and particularly terminal operators. Certain of these entities require us to
obtain permits, licenses, certificates and financial assurances for the operation of our vessels. Failure to maintain necessary permits or approvals could require us to incur substantial costs or result in the temporary suspension of operation of
one or more of our vessels. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We believe that the heightened level of environmental and quality concerns among insurance
underwriters, regulators and charterers is leading to greater inspection and safety requirements on all vessels and may accelerate the scrapping of older vessels throughout the industry. Increasing environmental concerns have created a demand for
vessels that conform to the stricter environmental standards. We are required to maintain operating standards for all of our </FONT></P>
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vessels that emphasize operational safety, quality maintenance, continuous training of our officers and crews and compliance with United States and international regulations. We believe that the
operation of our vessels is in substantial compliance with applicable environmental laws and regulations. However, because such laws and regulations are frequently changed and may impose increasingly stricter requirements, any future requirements
may limit our ability to do business, increase our operating costs, force the early retirement of one or more of our vessels, and/or affect their resale value, all of which could have a material adverse effect on our financial condition and results
of operations. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Environmental Regulations&#151;International Maritime Organization (&#147;IMO&#148;) </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The International Maritime Organization (&#147;IMO&#148;), the United Nations agency for maritime safety and the prevention of pollution
by ships, has negotiated international conventions relating to pollution by ships. In 1973, IMO adopted the International Convention for the Prevention of Pollution from Ships (&#147;MARPOL&#148;), which has been periodically updated with relevant
amendments. MARPOL addresses pollution from ships by oil, noxious liquid substances carried in bulk, harmful substances carried by sea in packaged form, sewage, garbage, and air emissions. Our vessels are subject to standards imposed by the IMO.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In September 1997, the IMO adopted MARPOL Annex VI to address air pollution from ships. Effective in May 2005, Annex VI set
limits on sulfur oxide and nitrogen oxide emissions from ship exhausts and prohibited deliberate emissions of ozone depleting substances, such as chlorofluorocarbons. Annex VI also included a global cap on the sulfur content of fuel oil and allowed
for special areas to be established with more stringent controls on sulfur emissions. Options for implementing the requirements of Annex VI include use of low sulfur fuels, modifications to vessel engines, or the addition of post combustion emission
controls. Annex VI has been ratified by some, but not all IMO member states. Vessels that are subject to Annex VI must, if built before the effective date, obtain an International Air Pollution Prevention Certificate evidencing compliance with Annex
VI not later than either the first dry docking after May&nbsp;19, 2005, but no later than May&nbsp;19, 2008. All vessels subject to Annex VI and built after May&nbsp;19, 2005 must also have this Certificate. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In October 2008, the IMO adopted amendments to Annex VI, and United States ratified the Annex VI amendments in October 2008. Beginning in
2011 the amendments required a progressive reduction of sulfur levels in bunker fuels to be phased in by 2020 and imposed more stringent nitrogen oxide emission standards on marine diesel engines, depending on their date of installation. Since
January&nbsp;1, 2012, the amended Annex VI required that fuel oil contain no more than 3.50% sulfur. More stringent emission standards apply in coastal areas designated by the IMO as Emission Control Areas, or ECAs, such as the Baltic and North
Seas, United States and Canadian coastal areas, and the United States Caribbean Sea. As of January&nbsp;1, 2015, vessels operating within an ECA must use fuel with a sulfur content that does not exceed 0.10%. We have obtained International Air
Pollution Prevention Certificates for all of our vessels and believe they are compliant in all material respects with current Annex VI requirements. We may incur costs to comply with the amended Annex VI requirements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our LPG carriers must have an IMO Certificate of Fitness demonstrating compliance with construction codes for LPG carriers. These codes,
and similar regulations in individual member states, address fire and explosion risks posed by the transport of liquefied gases. Collectively, these standards and regulations impose detailed requirements relating to the design and arrangement of
cargo tanks, vents, and pipes; construction materials and compatibility; cargo pressure; and temperature control. All of our LPG carriers have Certificates of Fitness and we intend to obtain such certificates for the vessels that we have agreed to
acquire. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Many countries have ratified and follow the liability plan adopted by the IMO and set out in the International
Convention on Civil Liability for Oil Pollution Damage of 1969 (the CLC) (the United States, with its separate OPA 90 regime described below, is not a party to the CLC). This convention generally applies to vessels that carry oil in bulk as cargo.
Under this convention and depending on whether the country in which the damage results is a party to the 1992 Protocol to the CLC, the registered owner of a regulated vessel is strictly liable for pollution damage in the territorial waters or
exclusive economic zone of a contracting state caused by the discharge of any oil from the ship, subject to certain defenses. Under an amendment to the 1992 Protocol that became effective on November&nbsp;1, 2003, for vessels of 5,000 to 140,000
gross tons, liability per incident is limited to 4.51 million. Special Drawing Rights (SDR) </FONT></P>
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plus 631 SDR for each additional gross ton over 5,000. The SDR is an International Monetary Fund unit pegged to a basket of currencies. The right to limit liability under the CLC is forfeited
where the spill is caused by the owner&#146;s actual fault and, under the 1992 Protocol, where the spill is caused by the owner&#146;s intentional or reckless conduct. Vessels trading to states that are parties to the CLC must provide evidence of
insurance covering the liability of the owner. In jurisdictions where the CLC has not been adopted, various legislative schemes or common law regimes govern, and liability is imposed either on the basis of fault or in a manner similar to that
convention. We believe that our P&amp;I insurance will cover any liability under the CLC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In 2001, the IMO adopted the
International Convention on Civil Liability for Bunker Oil Pollution Damage, or the Bunker Convention, which imposes strict liability on ship owners for pollution damage caused by discharges of bunker oil in jurisdictional waters of ratifying
states. The Bunker Convention also requires registered owners of ships over 1,000 gross tons to maintain insurance for pollution damage in an amount equal to the limits of liability under the applicable national or international limitation regime
(but not exceeding the amount calculated in accordance with the Convention on Limitation of Liability for Maritime Claims of 1976, as amended). Because the Bunker Convention does not apply to pollution damage governed by the CLC, it applies only to
discharges from any of our vessels that are not transporting oil. The Bunker Convention entered into force on November&nbsp;21, 2008 and as of March&nbsp;10, 2015, has been ratified by 78 states. In other jurisdictions, liability for spill or
releases of oil from ship&#146;s bunkers typically is determined by national or other domestic laws in the jurisdiction where the events occur. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our LPG vessels and product carriers may also become subject to the International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by
Sea adopted in 1996 as amended by the Protocol to the HNS Convention, adopted in April 2010 (2010 HNS Protocol) (collectively, the &#147;2010 HNS Convention&#148;), if it enters into force. The Convention creates a regime of liability and
compensation for damage from hazardous and noxious substances (or HNS), including liquefied gases. The 2010 HNS Convention sets up a two-tier system of compensation composed of compulsory insurance taken out by ship owners and an HNS Fund that will
come into play when the insurance is insufficient to satisfy a claim or does not cover the incident. Under the 2010 HNS Convention, if damage is caused by bulk HNS, claims for compensation will first be sought from the ship owner up to a maximum of
100&nbsp;million Special Drawing Rights (or SDR). If the damage is caused by packaged HNS or by both bulk and packaged HNS, the maximum liability is 115&nbsp;million SDR. Once the limit is reached, compensation will be paid from the HNS Fund up to a
maximum of 250&nbsp;million SDR. The 2010 HNS Convention has not been ratified by a sufficient number of countries to enter into force, and at this time we cannot estimate with any certainty the costs of compliance with its requirements should it
enter into force. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The IMO adopted the International Convention for the Control and Management of Ships&#146; Ballast Water
and Sediments, or the BWM Convention, in February 2004. The BWM Convention&#146;s implementing regulations call for a phased introduction of mandatory ballast water exchange requirements to be replaced in time with mandatory concentration limits.
Upon entry into force of the BWM Convention, mid-ocean ballast exchange would be mandatory. The BWM Convention will not become effective until 12 months after it has been adopted by 30 states, the combined merchant fleets of which represent not less
than 35% of the gross tonnage of the world&#146;s merchant shipping. As of March&nbsp;31, 2016 the BWM Convention had been adopted by 49 states, representing approximately 34.82% of the world&#146;s tonnage. Accordingly while the BWM Convention has
not yet been adopted by a sufficient number of states with sufficient tonnage to enter into force, it may be in the near future. Many of the implementation dates in the BWM Convention have already passed, so, on December&nbsp;4, 2013, the IMO
Assembly passed a resolution revising the dates of applicability of the requirements of the BWM Convention so that they will be triggered by the entry into force date, and not the dates originally in the BWM Convention. This, in effect, makes all
vessels constructed before the entry into force date &#147;existing vessels&#148; and delays the date for installation of ballast water management systems until the first renewal survey following entry into force of the BWM Convention. When
mid-ocean ballast exchange or ballast water treatment requirements become mandatory, the cost of compliance could increase for our vessels, although it is difficult to predict the overall impact of such a requirement on our operations. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The operation of our vessels is also affected by the requirements set forth in the ISM Code of the IMO. The ISM Code requires shipowners
and bareboat charterers to develop and maintain an extensive SMS that includes the adoption of a safety and environmental protection policy setting forth instructions and procedures for safe </FONT></P>
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operation and describing procedures for dealing with emergencies. Vessel operators must obtain a &#147;Safety Management Certificate&#148; from the government of the vessel&#146;s flag state to
verify that it is being operated in compliance with its approved SMS. The failure of a ship owner or bareboat charterer to comply with the ISM Code may subject such party to increased liability, decrease available insurance coverage for the affected
vessels and result in a denial of access to, or detention in, certain ports. Currently, each of the vessels in our fleet is ISM code-certified. However, there can be no assurance that such certification will be maintained indefinitely. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The operations of our product carriers are subject to compliance with the IMO&#146;s International Code for the Construction and
Equipment of Ships carrying Dangerous Chemicals in Bulk (IBC Code) for chemical tankers built after July&nbsp;1, 1986. The IBC Code includes ship design, construction and equipment requirements and other standards for the bulk transport of certain
liquid chemicals. Amendments to the IBC Code pertaining to revised international certificates of fitness for the carriage of dangerous goods entered into force in June 2014. We may need to make certain expenditures to comply with these amendments.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Environmental Regulations&#151;The United States Oil Pollution Act of 1990 (&#147;OPA&#148;) and the U.S. Comprehensive Environmental
Response, Compensation, and Liability Act (&#147;CERCLA&#148;) </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The United States Oil Pollution Act of 1990, or OPA,
established an extensive regulatory and liability regime for the protection and cleanup of the environment from oil spills. OPA applies to discharges of any oil from a vessel, including discharges of fuel oil (bunkers) and lubricants. OPA affects
all owners and operators whose vessels trade in the United States, its territories and possessions or whose vessels operate in United States waters, which include the United States&#146; territorial sea and its two hundred nautical mile exclusive
economic zone. The United States has also enacted the Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA, which applies to the discharge of hazardous substances other than oil, whether on land or at sea. OPA and CERCLA
both define &#147;owner and operator&#148; in the case of a vessel as any person owning, operating or chartering by demise, the vessel. Accordingly, both OPA and CERCLA impact our operations. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under OPA, vessel owners, operators and bareboat charterers are &#147;responsible parties&#148; and are jointly, severally and strictly
liable (unless the discharge of pollutants results solely from the act or omission of a third party, an act of God or an act of war) for all containment and clean-up costs and other damages arising from discharges or threatened discharges of
pollutants from their vessels. OPA broadly defines these other damages to include: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">natural resources damage and the costs of assessment thereof; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">real and personal property damage; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">net loss of taxes, royalties, rents, fees and other lost revenues; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">lost profits or impairment of earning capacity due to property or natural resources damage; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">net cost of public services necessitated by a spill response, such as protection from fire, safety or health hazards, and loss of subsistence use of
natural resources. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The current limits of OPA liability are the greater of $2,200 per gross ton or
$18,796,800 for double-hulled tank vessels, subject to periodic adjustment for inflation. These limits of liability do not apply if an incident was directly caused by violation of applicable United States federal safety, construction or operating
regulations or by a responsible party&#146;s gross negligence or willful misconduct, or if the responsible party fails or refuses to report the incident or to cooperate and assist in connection with oil removal activities. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">OPA requires owners and operators of vessels over 300 gross tons to establish and maintain with the United States Coast Guard evidence of
financial responsibility sufficient to meet their potential liabilities under the OPA. Under the United States Coast Guard regulations implementing OPA, vessel owners and operators may evidence their financial responsibility by showing proof of
insurance, surety bond, self-insurance, or guaranty. Under the OPA regulations, an owner or operator of a fleet of vessels is required only to demonstrate evidence of financial responsibility in an amount sufficient to cover the vessels in the fleet
having the greatest maximum liability under OPA. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">CERCLA contains a similar liability regime whereby owners and operators of vessels are
liable for cleanup, removal and remedial costs, as well as damage for injury to, or destruction or loss of, natural resources, including the reasonable costs associated with assessing same, and health assessments or health effects studies. There is
no liability if the discharge of a hazardous substance results solely from the act or omission of a third party, an act of God or an act of war. Liability under CERCLA is limited to the greater of $300 per gross ton or $5 million for vessels
carrying a hazardous substance as cargo and the greater of $300 per gross ton or $500,000 for any other vessel. These limits do not apply (rendering the responsible person liable for the total cost of response and damages) if the release or threat
of release of a hazardous substance resulted from willful misconduct or negligence, or the primary cause of the release was a violation of applicable safety, construction or operating standards or regulations. The limitation on liability also does
not apply if the responsible person fails or refused to provide all reasonable cooperation and assistance as requested in connection with response activities where the vessel is subject to OPA. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We currently maintain, for each of our vessels, pollution liability coverage insurance in the amount of $1 billion per incident. In
addition, we carry hull and machinery and protection and indemnity insurance to cover the risks of fire and explosion. Under certain circumstances, fire and explosion could result in a catastrophic loss. While we believe that our present insurance
coverage is adequate, not all risks can be insured, and there can be no guarantee that any specific claim will be paid, or that we will always be able to obtain adequate insurance coverage at reasonable rates. If the damages from a catastrophic
spill exceeded our insurance coverage, it would have a severe effect on us and could possibly result in our insolvency. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">OPA
and CERCLA both require owners and operators of vessels to establish and maintain with the U.S. Coast Guard evidence of financial responsibility sufficient to meet the maximum amount of liability to which the particular responsible person may be
subject. Vessel owners and operators may satisfy their financial responsibility obligations by providing a proof of insurance, a surety bond, qualification as a self-insurer or a guarantee. Under the self-insurance provisions, the ship owner or
operator must have a net worth and working capital, measured in assets located in the United States against liabilities located anywhere in the world, that exceeds the applicable amount of financial responsibility. We have complied with the United
States Coast Guard regulations by providing a financial guaranty evidencing sufficient self-insurance. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">OPA specifically
permits individual states to impose their own liability regimes with regard to oil pollution incidents occurring within their boundaries, and some states have enacted legislation providing for unlimited liability for oil spills. In some cases,
states, which have enacted such legislation, have not yet issued implementing regulations defining vessels owners&#146; responsibilities under these laws. We intend to comply with all applicable state regulations in the ports where our vessels call.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Although the 2010 oil spill disaster in the Gulf of Mexico involved a drilling rig and well, it may result in additional
legislative or regulatory initiatives for all vessels, including the raising or elimination of liability caps under OPA or more stringent operational requirements. We cannot predict what additional requirements may be enacted and what effect, if
any, such requirements may have on our operations. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Environmental Regulations&#151;Other Environmental Initiatives </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The EU has also adopted legislation that: (1)&nbsp;requires member states to refuse access to their ports to certain sub-standard vessels,
according to vessel type, flag and number of previous detentions; (2)&nbsp;creates an obligation on member states to inspect at least 25% of vessels using their ports annually and provides for increased surveillance of vessels posing a high risk to
maritime safety or the marine environment; (3)&nbsp;provides the EU with greater authority and control over classification societies, including the ability to seek to suspend or revoke the authority of negligent societies; and (4)&nbsp;requires
member states to impose criminal sanctions for certain pollution events, such as the unauthorized discharge of tank washings. It is impossible to predict what additional legislation or regulations, if any, may be promulgated by the EU or any other
country or authority. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On March&nbsp;23, 2012, the U.S. Coast Guard adopted new ballast water discharge standards under the
U.S. National Invasive Species Act, or NISA. The regulations, which became effective on June&nbsp;21, 2012, set maximum acceptable discharge limits for living organisms and established standards for ballast water
</FONT></P>
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management systems, and they are consistent with the requirements under the 2004 BWM Convention described above. The new requirements are being phased in based on the size of the vessel and its
next drydocking date. However, the U.S. Coast Guard must approve any ballast water management technology before it is placed on a vessel, but has yet to do so. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The U.S. Clean Water Act (&#147;CWA&#148;) prohibits the discharge of oil or hazardous substances in navigable waters and imposes strict liability in the form of penalties for any unauthorized discharges.
The CWA also imposes substantial liability for the costs of removal, remediation and damages and complements the remedies available under OPA 90. Under U.S. Environmental Protection Agency (&#147;EPA&#148;) regulations we are required to obtain a
CWA permit to discharge ballast water and other wastewaters incidental to the normal operation of our vessels if we operate within the three mile territorial waters or inland waters of the United States. This permit, which the EPA has designated as
the Vessel General Permit for Discharges Incidental to the Normal Operation of Vessels, or VGP, incorporates the current U.S. Coast Guard requirements for ballast water management, as well as supplemental ballast water requirements, and includes
requirements applicable to 26 specific discharge streams, such as deck runoff, bilge water and gray water. The U.S. Coast Guard and the EPA have entered into a memorandum of understanding which provides for collaboration on the enforcement of the
VGP requirements. As a result, it is expected that the U.S. Coast Guard will include the VGP as part of its normal Port State Control inspections. The EPA issued a new VGP that became effective in December 2013. Among other things, it contained
numeric ballast water discharge limits for most vessels and more stringent requirements for exhaust gas scrubbers and required the use of environmentally friendly lubricants. We have submitted NOIs (Notices Of Intent) for Discharges Incidental to
the Normal Operation of a Vessel under the 2013 VGP to the U.S. EPA for all our ships trading in U.S. waters. Vessels are subject to the EPA and Coast Guard ballast water management requirements despite the lack of U.S. Coast Guard&#151;approved
ballast water management technology. The U.S. Coast Guard has provided waivers to vessels that cannot install the as-yet unapproved technology. The EPA, on the other hand, has taken a different approach to enforcing the ballast water management
standards in the 2013 VGP. Under a December&nbsp;27, 2013 policy the agency may consider why vessels do not have the requisite ballast water management technology installed when taking actions to compel compliance with the requirements of the 2013
VGP. The ballast water management standards of the 2013 VGP were challenged by the Canadian Shipowners&#146; Association in the U.S. Second Circuit Court of Appeals. The U.S. Second Circuit Court of Appeals ruled on October&nbsp;5, 2015 that EPA
acted arbitrarily and capriciously with respect to certain of the ballast water provisions in the 2013 VGP. The Court remanded the issue to EPA to either justify its approach in the 2013 VGP or redraft the ballast water sections of the VGP
consistent with the Court&#146;s ruling. In the meantime, the 2013 VGP will remain in effect. Compliance with the EPA and Coast Guard ballast water management regulations could require the installation of equipment on our vessels to treat ballast
water before it is discharged or the implementation of other port facility disposal arrangements at potentially substantial cost, or may otherwise restrict our vessels from entering U.S. waters. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Climate Control Initiatives </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Although the Kyoto Protocol to the United Nations Framework Convention on Climate Change requires adopting countries to implement national programs to reduce emissions of greenhouse gases, emissions of
greenhouse gases from international shipping are not currently subject to the Kyoto Protocol. The Kyoto Protocol was extended to 2020 at the 2012 United Nations Climate Change Conference, with the hope that a new climate change treaty would be
adopted by 2015 and come into effect by 2020. The Paris Agreement adopted under the United Nations Framework Convention on Climate Change in December 2015, contemplates commitments from each nation party thereto to take action to reduce greenhouse
gas emissions and limit increases in global temperatures but did not include any restrictions or other measures specific to shipping emissions. However, restrictions on shipping emissions are likely to continue to be considered and a new treaty may
be adopted in the future that includes restrictions on shipping emissions. International or multi-national bodies or individual countries may adopt their own climate change regulatory initiatives. The IMO&#146;s Marine Environment Protection
Committee adopted two new sets of mandatory requirements to address greenhouse gas emissions from shipping that entered into force in January 2013. The Energy Efficiency Design Index establishes minimum energy
</FONT></P>
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efficiency levels per capacity mile and applies to new vessels. Currently operating vessels must develop and implement Ship Energy Efficiency Plans. These new requirements could cause us to incur
additional costs to comply. The IMO is also considering the development of market-based mechanisms for limiting greenhouse gas emissions from ships, but it is impossible to predict the likelihood of adoption of such a standard or the impact on our
operations. In April 2015, the EU adopted regulations requiring the monitoring and reporting of greenhouse gas emissions from marine vessels (of over 5,000 gross tons) beginning in January 2018. Negotiators from the European Parliament and the
European Union Council provisionally adopted rules to implement the strategy and the European Parliament and Council of Ministers are expected to formally endorse the regulations. The United States EPA has issued a finding that greenhouse gas
emissions endanger the public health and safety and has adopted regulations under the Clean Air Act to limit emissions of greenhouse gases from certain mobile sources and proposed regulations to limit greenhouse gas emissions from large stationary
sources. Although the mobile source regulations do not apply to greenhouse gas emissions from vessels, EPA is considering a petition from the California Attorney General and environmental groups to regulate greenhouse gas emissions from ocean-going
vessels. Any passage of climate control initiatives by the IMO, the EU or the individual countries in which we operate that limit greenhouse gas emissions from vessels could require us to limit our operations or make significant financial
expenditures that we cannot predict with certainty at this time. Passage of climate control initiatives that affect the demand for LPG products and oil may also materially affect our business. Even in the absence of climate control legislation and
regulations, our business may be materially affected to the extent that climate change may result in sea level changes or more intense weather events. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Vessel Security Regulations </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Since the terrorist attacks of
September&nbsp;11, 2001, there have been a variety of initiatives intended to enhance vessel security. On November&nbsp;25, 2002, the Maritime Transportation Security Act of 2002, or MTSA, came into effect in the United States. To implement certain
portions of the MTSA, in July 2003, the United States Coast Guard issued regulations requiring the implementation of certain security requirements aboard vessels operating in waters subject to the jurisdiction of the United States. Similarly, in
December 2002, amendments to the International Convention for the Safety of Life at Sea, or SOLAS, created a new chapter of the convention dealing specifically with maritime security. The new chapter went into effect in July 2004, and imposes
various detailed security obligations on vessels and port authorities, most of which are contained in the newly created International Ship and Port Facilities Security or, ISPS, Code. Among the various requirements are: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">on-board installation of automatic information systems, or AIS, to enhance vessel-to-vessel and vessel-to-shore communications;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">on-board installation of ship security alert systems; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the development of vessel security plans; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">compliance with flag state security certification requirements. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The United States Coast Guard regulation&#146;s aim to align with international maritime security standards exempted non-United States
vessels from MTSA vessel security measures provided such vessels have on board, by July&nbsp;1, 2004, a valid International Ship Security Certificate (ISSC) that attests to the vessel&#146;s compliance with SOLAS security requirements and the ISPS
Code. We have obtained ISSCs for all of our vessels and implemented the various security measures addressed by the MTSA, SOLAS and the ISPS Codes to ensure that our vessels attain compliance with all applicable security requirements within the
prescribed time periods. We do not believe these additional requirements will have a material financial impact on our operations. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Classification and Inspection </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">All our vessels are certified as being &#147;in class&#148; by a classification society member of the International Association of Classification Societies such as Lloyds Register of Shipping, Bureau
Veritas, American Bureau of </FONT></P>
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Shipping, RINA SpA, DNV and Nippon Kaiji Kyokai. All new and secondhand vessels that we purchase must be certified prior to their delivery under our standard contracts and memoranda of agreement.
If the vessel is not certified on the date of closing, we have no obligation to take delivery of the vessel. Most insurance underwriters make it a condition for insurance coverage that a vessel be certified as &#147;in class&#148; by a
classification society that is a member of the International Association of Classification Societies. Every vessel&#146;s hull and machinery is &#147;classed&#148; by a classification society authorized by its country of registry. The classification
society certifies that the vessel has been built and maintained in accordance with the rules of such classification society and complies with applicable rules and regulations of the country of registry of the vessel and the international conventions
of which that country is a member. Each vessel is inspected by a surveyor of the classification society every year&#151;an annual survey, every two to three years&#151;an intermediate survey, and every four to five years&#151;a special survey.
Vessels also may be required, as part of the intermediate survey process, to be dry-docked every 30 to 36 months for inspection of the underwater parts of the vessel and for necessary repairs related to such inspection; alternatively, such
requirements may be met concurrently with the special survey. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition to the classification inspections, many of our
customers, including the major oil companies, regularly inspect our vessels as a precondition to chartering voyages on these vessels. We believe that our well-maintained, high quality tonnage should provide us with a competitive advantage in the
current environment of increasing regulations and customer emphasis on quality of service. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All areas subject to surveys as
defined by the classification society, are required to be surveyed at least once per class period, unless shorter intervals between surveys are prescribed elsewhere. The period between two subsequent surveys of each area must not exceed five years.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels are drydocked for the special survey for inspection of the underwater parts and for repairs related to inspections.
If any defects are found, the classification surveyor will issue a &#147;recommendation&#148; which must be rectified by the ship owner within the prescribed time limits. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Risk of Loss and Liability Insurance </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>General </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The operation of any cargo vessel includes risks such as mechanical failure, physical damage, collision, property loss, cargo loss or
damage and business interruption due to political circumstances in foreign countries, hostilities and labor strikes. In addition, there is always an inherent possibility of marine disaster, including environmental mishaps, and the liabilities
arising from owning and operating vessels in international trade. While we believe that our present insurance coverage is adequate, not all risks can be insured, and there can be no guarantee that any specific claim will be paid, or that we will
always be able to obtain adequate insurance coverage at reasonable rates. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Hull and Machinery Insurance </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have obtained marine hull and machinery and war risk insurance, which include the risk of actual or constructive total loss, for all of
our vessels. The vessels are each covered up to at least fair market value, with deductibles of $100,000 per vessel. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also
maintain increased value insurance for most of our vessels. Under the increased value insurance, in case of total loss of the vessel, we will be able to recover the sum insured under the increased value policy in addition to the sum insured under
the Hull and Machinery policy. Increased value insurance also covers excess liabilities which are not recoverable in full by the Hull and Machinery policies by reason of under insurance. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Protection and Indemnity Insurance </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Protection and indemnity insurance, a
form of mutual indemnity insurance, which covers our third party liabilities in connection with our shipping activities, is provided by mutual protection and indemnity associations, </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
or P&amp;I Associations or &#147;clubs.&#148; This includes third-party liability and other related expenses of injury or death of crew, passengers and other third parties, loss or damage to
cargoes, claims arising from collisions with other vessels, damage to other third-party properties, pollution arising from oil or other substances, and salvage, towing and other related costs, including wreck removal. Subject to the
&#147;capping&#148; discussed below, our coverage, except for pollution, is unlimited. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our current protection and indemnity
insurance coverage for pollution is $1.0 billion per vessel per incident. The 14 P&amp;I Associations that comprise the International Group insure approximately 90% of the world&#146;s commercial tonnage and have entered into a pooling agreement to
reinsure each association&#146;s liabilities. Each P&amp;I Association has capped its exposure to this pooling agreement at $4.5 billion. As a member of a P&amp;I Association, which is a member of the International Group, we are subject to calls
payable to the associations based on its claim records as well as the claim records of all other members of the individual associations, and members of the pool of P&amp;I Associations comprising the International Group. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Competition </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We operate
in a highly competitive global market based primarily on supply and demand of vessels and cargoes. While the worldwide LPG sector is comparatively smaller than other shipping sectors, consisting of vessels of varying sizes between 1,000 and 85,000
cbm, it is a diversified global market with many charterers, owners and operators of vessels. As of April&nbsp;1, 2016, our LPG carrier fleet, including our two chartered in vessels, had an average age of 9.4 years, and we had five newbuildings
scheduled to be delivered from the third quarter of 2016 to the third quarter of 2017, representing an aggregate capacity of approximately 37.5% of our existing fleet&#146;s capacity. Accordingly, we believe we are well positioned from a competitive
standpoint in terms of our vessels meeting the ongoing needs of charterers. Also, as of April&nbsp;1, 2016, we had one of the largest single-owned fleets in our primary sector segment (3,000 cbm to 8,000 cbm), which, in our view, also positions us
well from the standpoint of charterers and competitors. We believe, however, that the LPG shipping sector will continue to be highly competitive, and will be driven by both energy production and consumption. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ownership of medium range product carriers and crude oil tankers capable of transporting crude oil and refined petroleum products, such
as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, is highly diversified and is divided among many independent tanker owners. Many oil companies and other oil trading companies, the principal charterers of our product
carriers and crude oil tankers, also operate their own vessels and transport oil for themselves and third party charterers in direct competition with independent owners and operators. Competition for charters, including for the transportation of oil
and oil products, can be intense and depends on price as well as on the location, size, age, condition, specifications and acceptability of the vessel and its operator to the charterer and is frequently tied to having an available vessel with the
appropriate approvals from oil majors. Principal factors that are important to our charterers include the quality and suitability of the vessel, its age, technical sophistication, safety record, compliance with IMO standards and the heightened
industry standards that have been set by some energy companies, and the competitiveness of the bid in terms of overall price. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Seasonality
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The LPG carrier market is typically stronger in the fall and winter months in anticipation of increased consumption of
propane and butane for heating during the winter months. In addition, unpredictable weather patterns in these months tend to disrupt vessel scheduling and supplies of certain commodities. As a result, our revenues may be stronger in fiscal quarters
ended December&nbsp;31 and March&nbsp;31 and relatively weaker during the fiscal quarters ended June&nbsp;30 and September&nbsp;30, as was the case in each of the last five fiscal years. We have limited exposure to seasonality with respect to our
product carriers, as two of them have been deployed on fixed rate bareboat charters which expire in 2017 and 2019, while our third product carrier is employed under a time charter which expires in July 2016. The Aframax crude oil tanker is deployed
on a fixed rate bareboat charter expiring in February 2018. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C. Organizational Structure </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">As of December&nbsp;31, 2015, we were the sole owner of all the outstanding shares of the subsidiaries listed in Exhibit 8. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>D. Properties </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other than our vessels we do not have any material property.
For information on our fleet see &#147;Item 4. Information on the Company&#151;Business Overview.&#148; Our vessels are subject to priority mortgages, which secure our obligations under our various credit facilities. For further details regarding
our credit facilities, refer to &#147;Item&nbsp;5. Operating and Financial Review and Prospects&#151;B. Liquidity and Capital Resources&#151;Credit Facilities.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have no freehold or material leasehold interest in any real property. We lease office space from an affiliated company of Stealth Maritime. See &#147;Item 7. Major Shareholders and Related Party
Transactions&#151;B. Related Party Transactions&#151;Office Space.&#148; </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Unresolved Staff Comments </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">None. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Operating and Financial Review and Prospects </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following discussion of our financial condition and results of operations should be read in conjunction with the financial statements and the notes to those statements included elsewhere in this
Annual Report. This discussion includes forward-looking statements that involve risks and uncertainties. As a result of many factors, such as those set forth under &#147;Item 3. Key Information&#151;Risk Factors&#148; and elsewhere in this Annual
Report, our actual results may differ materially from those anticipated in these forward-looking statements. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Overview </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are a provider of international seaborne transportation services to LPG producers and users, as well as crude oil and product carriers
to oil producers, refineries and commodities traders. As of December&nbsp;31, 2015 we operated a fleet of 51 LPG carriers, including 49 vessels we own and two vessels we charter-in, that carry various petroleum gas products in liquefied form,
including propane, butane, butadiene, isopropane, propylene and VCM (&#147;Vinyl Chloride Monomer&#148;), three medium range product carriers that carry refined petroleum products such as gasoline, diesel, fuel oil and jet fuel, as well as edible
oils and chemicals, and one Aframax tanker which is used for carrying crude oil. We took delivery of one newbuilding eco LPG carrier in February 2016, and sold one 1992-built, 3,500 cbm LPG carrier in January 2016. In addition, we are scheduled to
take delivery of a further newbuilding eco LPG carrier in the third quarter of 2016, with an additional four newbuilding eco LPG carriers of 22,000 cbm each, scheduled for delivery in 2017. Once the delivery of these newbuildings is completed, our
fleet will be composed of 54 LPG carriers, excluding the two vessels that are chartered in, with a total capacity of 334,427 cbm, three medium range product carriers with a total capacity of 140,000 dwt and one 115,804 dwt crude oil tanker, assuming
no further acquisitions or dispositions. For the years ended December&nbsp;31, 2013, 2014 and 2015, we owned an average of 39.4, 44.1 and 48.8 vessels, respectively, generating revenues of $121.5 million, $132.0 million and $141.3 million,
respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We, through Stealth Maritime, manage the employment of our fleet. We intend to continue to deploy our fleet
under period charters including time and bareboat charters, which can last up to several years, and spot market or voyage charters, which generally last from one to six months, subject to market conditions. Period charters and short term time
charters are for a fixed period of time. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Charters and revenues.</I> Under a time charter, the charterer pays a fixed rate per day over the term of the charter; a time charter, including a
short term time charter, may provide for rate adjustments and </FONT></P></TD></TR></TABLE>
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profit sharing. Under a bareboat charter, the charterer pays us a fixed rate for its use of our ship for the term of the charter. Under a voyage charter, we agree to transport a specified cargo
from a loading port to a discharging port for a fixed amount. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Charters and expenses</I>. Under a time charter, we are responsible for the vessel&#146;s operating costs (crew, provisions, stores, lubricants,
insurance, maintenance and repairs) incurred during the term of the charter, while the charterer pays voyage expenses (port, canal and fuel costs) that are unique to each particular voyage. Under a bareboat charter, the charterer is responsible for
all vessel operating expenses and voyage expenses incurred during the term of the charter. Under a voyage or spot charter, we are responsible for both the vessel operating expenses and the voyage expenses incurred in performing the charter
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;1, 2016, 11 of our LPG carriers, two of our medium range product carriers and our Aframax
crude oil tanker were deployed on bareboat charters, under which the charterer is responsible for the costs associated with the operations of the vessels. Of the remaining vessels in our fleet, as of April&nbsp;1, 2016, 13 were employed in the spot
market, with the remaining vessels deployed on time charters. As of April&nbsp;1, 2016, 62% of our anticipated fleet days for the existing fleet were covered by period charter contracts for the remainder of 2016 and 32% for 2017 (in each case
excluding the newbuilding LPG carriers which we have agreed to acquire, but have not yet been delivered). The corresponding forward coverage as of April&nbsp;1, 2015 was 63% for the remainder of 2015 and 34% for 2016. We are, however, exposed to
prevailing charter rate fluctuations for the remaining anticipated fleet days not covered by period charter contracts, as well as performance by our counterparties for the chartered days. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>A. Operating Results </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Factors Affecting Our Results of Operations </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We believe that the important measures for analyzing trends in the results of our operations consist of the following: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Calendar days</I>. We define calendar days as the total number of days in a period during which each vessel in our fleet was in our possession
including off-hire days associated with major repairs, drydockings or special or intermediate surveys. Calendar days are an indicator of the size of our fleet over a period and affect both the amount of revenue and the amount of expense that we
record during that period<I>. </I>In January 2016, we sold the 1992-built, 3,500 cbm LPG carrier <I>Gas Arctic</I>. We may also elect to sell additional older vessels in our fleet from time to time. Six of our LPG carriers are subject to
arrangements pursuant to which the charterer has options to purchase the vessels at declining stipulated prices at any time during the current charter for the respective vessels, in addition three of our vessels are subject to arrangements pursuant
to which the charterer has options to purchase the vessels at the end of their current charters in 2021 and 2022. If any of these purchase options were to be exercised, the expected size of our LPG carrier fleet would be reduced, and as a result our
anticipated level of calendar days and revenues would be reduced. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Voyage days</I>. We define voyage days as the total number of days in a period during which each vessel in our fleet was in our possession net of
off-hire days associated with major repairs, drydockings or special or intermediate surveys. The shipping industry uses voyage days (also referred to as available days) to measure the number of days in a period during which vessels are available to
generate revenues. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Fleet utilization; Fleet operational utilization</I>. We calculate fleet utilization by dividing the number of our voyage days during a period by
the number of our calendar days during that period, and we calculate fleet operational utilization by dividing the number of our voyage days (excluding commercially idle days) during a period by the number of our calendar days during that period.
The shipping industry uses fleet utilization to measure a company&#146;s efficiency in minimizing the amount of </FONT></P></TD></TR></TABLE>
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days that its vessels are off-hire for reasons such as scheduled repairs, vessel upgrades or drydockings and other surveys, and uses fleet operational utilization to also measure a company&#146;s
efficiency in finding suitable employment for its vessels. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Cyclicality.</I> The international gas carrier market, including the transport of LPG, is cyclical with attendant volatility in profitability,
charter rates and vessel values, resulting from changes in the supply of, and demand for, LPG carrier capacity. From the last quarter of 2011 until the third quarter of 2014, LPG carrier market conditions generally improved from low levels with
higher LPG carrier charter rates and utilization levels, however, the impact of the dramatic decline in oil prices on demand for LPG has adversely affected LPG carrier charter rates and utilization levels since the fourth quarter of 2014,
particularly in the smaller vessel classes. As of April&nbsp;1, 2016, we had 13 vessels trading in the spot market. We expect to take delivery of five LPG carrier newbuildings from the third quarter of 2016 to the third quarter of 2017. Four of
these newbuilding vessels, each scheduled to be delivered in 2017, do not yet have employment arranged. Charter rates remain subject to further downside risks, including in the event of increased weakness in the global economy and lower demand for
the seaborne transport of LPG, which may result from lower oil prices and reduced supply from lower oil and natural gas production. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">With regard to the vessels in the spot market, we are exposed to changes in spot rates for LPG carriers and such changes affect our earnings and the value of our LPG carriers at any given time. When LPG
vessel prices are considered to be low, companies not usually involved in shipping may make speculative vessel orders, thereby increasing the global supply of LPG carriers, satisfying demand sooner and potentially suppressing charter rates. With
regard to the four tankers in our fleet, one of our product carriers is on a fixed rate time charter expiring in July 2016 and two of the product carriers are deployed on fixed rate bareboat charters expiring in 2017 and 2019, while the Aframax
tanker is deployed on a fixed rate bareboat charter that expires in 2018, which has limited our exposure to fluctuations in charter rates for these vessels. However they will be exposed to prevailing charter rates in the product tanker sector when
their existing charters expire. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Seasonality.</I> The LPG carrier market is typically stronger in the fall and winter months in anticipation of increased consumption of propane and
butane for heating during the winter months. In addition, unpredictable weather patterns in these months tend to disrupt vessel scheduling and supplies of certain commodities. As a result, our revenues may be stronger in fiscal quarters ending
December&nbsp;31 and March&nbsp;31 and relatively weaker during the fiscal quarters ending June&nbsp;30 and September&nbsp;30, as was the case in 2013, 2014 and 2015. We have limited exposure to seasonality with respect to our product carriers and
Aframax tanker as these are deployed on long term or medium term fixed rate charters. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our
ability to control our fixed and variable expenses, including those for commission expenses, crew wages and related costs, the cost of insurance, expenses for repairs and maintenance, the cost of spares and consumable stores, tonnage taxes and other
miscellaneous expenses also affect our financial results. Factors beyond our control, such as developments relating to market premiums for insurance and the value of the U.S. dollar compared to currencies in which certain of our expenses, primarily
crew wages, are denominated can also cause our vessel operating expenses to increase. In addition, our net income is affected by our financing arrangements, including our interest rate swap arrangements. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Basis of Presentation and General Information </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Revenues </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our voyage revenues are driven primarily by the number of
vessels in our fleet, the number of voyage days during which our vessels generate revenues and the amount of daily charter hire that our vessels earn under charters which, in turn, are affected by a number of factors, including our decisions
relating to vessel acquisitions and disposals, the amount of time that we spend positioning our vessels, the amount of time that our vessels spend in dry dock undergoing repairs, maintenance and upgrade work, the age, condition and specifications of
our vessels and the levels of supply and demand in the LPG carrier, product carrier and crude oil tanker charter markets. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We employ our vessels under time, bareboat and spot charters. Bareboat charters provide for
the charterer to bear the cost of operating the vessel and as such typically market rates for bareboat charters are lower than those for time charters. Vessels operating on period charters, principally time and bareboat charters, provide more
predictable cash flows, but can yield lower profit margins than vessels operating in the spot charter market during periods characterized by favorable market conditions. As a result, during the time our vessels are committed on period charters we
will be unable, during periods of improving charter markets, to take advantage of improving charter rates as we could if our vessels were employed only on spot charters. Vessels operating in the spot charter market generate revenues that are less
predictable but may enable us to capture increased profit margins during periods of improving charter rates, although we are then exposed to the risk of declining LPG carrier, product carrier or crude oil tanker charter rates, which may have a
materially adverse impact on our financial performance. If we commit vessels on period charters, future spot market rates may be higher or lower than those rates at which we have time chartered our vessels. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Voyage Expenses </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses include port and canal charges, bunkers (fuel oil) expenses and commissions. These charges and expenses increase in
periods during which vessels are employed on the spot market, because under these charters, these expenses are for the account of the vessel owner. Under period charters, these charges and expenses, including bunkers (fuel oil) but excluding
commissions which are always paid by the vessel owner, are paid by the charterer. Bunkers (fuel oil), the price of which has declined since the third quarter of 2014 as a result of the decline in oil prices, accounted for 48.7% of total voyage
expenses for the year ended December&nbsp;31, 2015, 53.6% of total voyage expenses for the year ended December&nbsp;31, 2014 and 58.4% of total voyage expenses for the year ended December&nbsp;31, 2013. Commissions on hire are paid to our manager
Stealth Maritime and/or third party brokers. Stealth Maritime receives a fixed brokerage commission of 1.25% on freight, hire and demurrage for each vessel based on our management agreement since 2005. In 2015, port and canal charges and bunker
expenses represented a relatively small portion of our vessels&#146; overall expenses, 9.8%, because the majority of our vessels were employed under period charters, including time and bareboat charters, that require the charterer to bear such
expenses. As of April&nbsp;1, 2016, we had 13 vessels in the spot market for which we pay voyage expenses; the corresponding number as of April&nbsp;1, 2015 was ten and as of April&nbsp;1, 2014 was five. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Vessel Operating Expenses </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Vessel operating expenses include crew wages and related costs, the cost of insurance, expenses for repairs and maintenance, the cost of spares and consumable stores, tonnage taxes and other miscellaneous
expenses. Our ability to control these fixed and variable expenses, also affects our financial results. In addition, the type of charter under which our vessels are employed (time, bareboat or spot charter) also affects our operating expenses
because we do not pay the operating expenses of vessels that we deploy on bareboat charters. Factors beyond our control, some of which may affect the shipping industry in general, including, for instance, developments relating to market prices for
insurance and regulations related to safety and environmental matters may also cause these expenses to increase. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Management Fees
</I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">During 2015, we paid Stealth Maritime, our fleet manager, a fixed rate management fee of $440 per day for each vessel
in our fleet under spot or time charter and a fixed rate fee of $125 per day for each of the vessels operating on bareboat charter. These rates have been in effect since January&nbsp;1, 2007. Stealth Maritime also receives a fee equal to 1.0%
calculated on the price stated in the relevant memorandum of agreement for any vessel bought or sold by them on our behalf. From these management fees paid to Stealth Maritime, Stealth Maritime pays one technical manager that is responsible for the
technical management of some of our vessels that are not technically managed by Stealth Maritime on a day-to-day basis. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>General and Administrative Expenses </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We incur general and administrative expenses that consist primarily of legal fees, audit fees, office rental fees, officers and board
remuneration or reimbursement, directors and officers insurance, listing fees and other general and administrative expenses. Our general and administrative expenses also include our direct compensation expenses and the value of non-cash executive
services provided through, and other expenses arising from, our management agreement with Stealth Maritime, our directors&#146; compensation and the value of the lease expense for the space we rent from Stealth Maritime. For our compensation
expenses, pursuant to our management agreement, we reimburse Stealth Maritime for its payment of the compensation of our Chief Executive Officer, Deputy Chairman and Executive Director, Chief Technical Officer, and Internal Auditor. During the year
ended December&nbsp;31, 2015, such compensation was in the aggregate amount of $1.1 million. We had $0.5 million of unrecognized stock-based compensation expense as of December&nbsp;31, 2015, relating to equity awards issued to our executive
officers and non-executive members of our Board of Directors in 2014. Of these equity awards, 50% vested in November 2015, 25% are scheduled to vest in November 2016 and 25% are scheduled to vest in November 2017. Such expenses will be recognized as
general and administrative expenses over the vesting period until November 2017. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Inflation </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Inflation has only a moderate effect on our expenses given current economic conditions. In the event that significant global inflationary
pressures appear, these pressures would increase our operating, voyage, administrative and financing expenses. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Depreciation and Dry
docking </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We depreciate our vessels on a straight-line basis over their estimated useful lives, determined to be 30
years from the date of their initial delivery from the shipyard in the case of our LPG carriers and 25 years in the case of our product carriers and crude oil tanker. Depreciation is based on cost less the estimated scrap value of the vessels. We
expense costs associated with dry dockings and special and intermediate surveys as incurred which may affect the volatility of our results. During 2015, we dry docked four vessels at a total cost of $1.8 million. We expect that during 2016 our dry
docking costs will be higher, as seven vessels are scheduled to be dry docked in 2016. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Impairment Loss </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on the accounting standards followed by the Company, impairment losses are recognized on long-lived assets used in operations when
indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts and the asset&#146;s carrying value exceeds its fair value. If indicators of impairment are present,
the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value
and the difference is recorded as an impairment loss in the consolidated statements of income. For the year ended December&nbsp;31, 2015, we recognized an impairment loss of $8.2 million with respect to three of our older vessels. In December 2014,
the Company recognized an impairment loss of $6.2 million on two vessels scrapped within 2015. No impairment loss was identified or recorded for the year ended December&nbsp;31, 2013. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Gain / Loss on Sale of Vessels </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The carrying value of our vessels
includes the original cost of the vessels plus capitalized expenses since acquisition relating to improvements and upgrading of the vessel, less accumulated depreciation and less any impairment. Depreciation is calculated using the straight line
method, from the date the vessel was originally built, over an estimated useful life of 25 years for the tankers in our fleet and 30 years for the LPG carriers in our fleet. LPG carriers tend to trade for longer periods due to the less corrosive
nature of the cargoes they carry. Residual values used in depreciation calculations are based on $350 per light weight ton. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On January&nbsp;21, 2016, we sold the <I>Gas Arctic </I>for which we recognized a gain of
$0.3 million. On April&nbsp;1, 2015, we sold the <I>Gas Kaizen, </I>while on April&nbsp;16, 2015 we sold the <I>Gas Crystal,</I> both for demolition; we recognized a gain of $0.02 million and $0.01 million respectively on the sale of these two
vessels. During the year ended December&nbsp;31, 2014, we sold two vessels, the <I>Gas Cathar</I> and the <I>Gas Premiership </I>that were leased back by our Company on a bareboat hire basis for a period of four years. The aforementioned transaction
is classified as a sale and lease back transaction and in accordance with US&nbsp;GAAP ASC, 840-40, the net gain on sale of vessels of $0.8 million must be amortized throughout the lease period of the vessels. During the year ended December&nbsp;31,
2013, no vessels were sold. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Loss on Derivatives </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Five of our seven interest rate swaps, as of December&nbsp;31, 2015, are accounted for as cash flow hedges and the changes in their fair values are recorded in &#147;Accumulated other comprehensive
income/loss&#148;, while the other two interest rate swaps expired in March 2016. All changes in the fair value of our cash flow interest rate swaps and foreign currency exchange agreements that are not accounted for as cash flow hedges, are
recorded in earnings under &#147;Loss on Derivatives.&#148; To the extent we have interest rate swaps and foreign currency exchange agreements in this category, this increases the potential volatility in our reported earnings, in comparison to the
case where such arrangements did qualify for hedge accounting, due to the recognition of non-cash fair value movements of our cash flow interest rate swaps and foreign currency exchange arrangements directly in our statement of income. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Interest Expense and Finance Costs </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have entered into credit facilities to fund a portion of the purchase price of the vessels in our fleet, which are described in the &#147;Credit Facilities&#148; section below. We incur interest
expense on outstanding indebtedness under these credit facilities, which we include in interest expense. We also incurred financing costs in connection with establishing those facilities, which are deferred and amortized over the period of the
facility, which we also include in interest expense. We will incur additional interest expenses under any new credit facilities we enter into to finance or refinance the purchase price of additional vessels as described in the &#147;Liquidity and
Capital Resources&#148; section below. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Results of Operations </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Year ended December&nbsp;31, 2015 compared to the year ended December&nbsp;31, 2014 </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The average number of vessels in our fleet was 48.8 for the year ended December&nbsp;31, 2015 compared to 44.1 for the year ended December&nbsp;31, 2014. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">REVENUES&#151;Voyage revenues for the year ended December&nbsp;31, 2015 were $141.3 million compared to $132.0 million for the year ended
December&nbsp;31, 2014, an increase of $9.3 million. Total calendar days for our fleet were 18,541 for the year ended December&nbsp;31, 2015 compared to 16,136 for the year ended December&nbsp;31, 2014; due to the increase in the average number of
vessels in our fleet. Of the total calendar days in 2015, 5,543 or 29.9% were bareboat charter days and 8,973 or 48.4% were time charter days. This compares to 5,201 or 32.2% bareboat charter days and 8,692 or 53.9% time charter days in 2014. Our
fleet operational utilization was 92.5% and 93.3% for the years ended December&nbsp;31, 2015 and December&nbsp;31, 2014, respectively. Although rates have decreased, revenues increased in 2015 due primarily to the higher number of voyage days for
our fleet. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">VOYAGE EXPENSES&#151;Voyage expenses were $17.6 million for the year ended December&nbsp;31, 2015 compared to
$14.1 million for the year ended December&nbsp;31, 2014, an increase of $3.5 million, or 24.8%. This was primarily due the higher number of vessels operating under spot charters. Voyage expenses consisted largely of bunker charges in the amount of
$8.6 million for 2015 compared to bunker charges in the amount of $7.6 million for 2014, an increase of $1.0 million, due to the increase in the number of spot charter days. Under spot </FONT></P>
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charters we are responsible for paying the vessels&#146; bunkers consumption, as well as most expenses. Voyage expenses also included port expenses of $4.0 million for the year ended
December&nbsp;31, 2015 compared to $2.3 million for the year ended December&nbsp;31, 2014, an increase of $1.7 million and commissions to third parties which were $2.4 million for the year ended December&nbsp;31, 2015 compared to $2.1 million for
the year ended December&nbsp;31, 2014, an increase of $0.3 million. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">VESSEL OPERATING EXPENSES&#151;Vessel operating expenses
were $50.7 million for the year ended December&nbsp;31, 2015 compared to $45.4 million for the year ended December&nbsp;31, 2014, an increase of $5.3 million, or 11.7%. The main reason for this increase was the higher number of vessels in the fleet,
as ten new vessels were added to our fleet. Other components of vessel operating expenses were spares and consumable stores, which increased from $7.1 million in the year ended December&nbsp;31, 2014 to $8.0 million in the year ended
December&nbsp;31, 2015 while repairs and maintenance costs were $5.2 million in the year ended December&nbsp;31, 2014 compared to $5.1 million in the year ended December&nbsp;31, 2015. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">DRY DOCKING COSTS&#151;Dry docking costs were $1.8 million for the year ended December&nbsp;31, 2015 compared to $0.5 million for the
year ended December&nbsp;31, 2014, an increase of $1.3 million, or 260%. Dry docking costs increased due to a higher number of vessels having to undergo dry docking inspections in the year ended December&nbsp;31, 2015 compared to the number of
vessels that underwent dry docking inspections in the year ended December&nbsp;31, 2014. For the year ended December&nbsp;31, 2015, four vessels were dry docked compared to one vessel for the year ended December&nbsp;31, 2014. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">MANAGEMENT FEES&#151;Management fees were $6.5 million for the year ended December&nbsp;31, 2015 compared to $5.5 million for the year
ended December&nbsp;31, 2014, an increase of $1.0 million or 18.2%. The increase was due to the higher average number of vessels in the fleet; 48.8 for the year ended December&nbsp;31, 2015 compared to 44.1 for the year ended December&nbsp;31, 2014.
The daily management fees per vessel did not change during these periods. For the year ended December&nbsp;31, 2015, 69.6% of our total calendar days related to vessels under time or spot charter while for the year ended December&nbsp;31, 2014,
67.8% related to vessels under time or spot charter. Accordingly, both the total number of calendar days due to the increase in the average size of our fleet and the number of time and spot charter days, for each of which the higher rate of $440 per
vessel per day management fee was paid, compared to bareboat charter days, for which the lower $125 per vessel per day management fee was paid, increased in 2015 from 2014. As a result of the above, management fees increased. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">GENERAL AND ADMINISTRATIVE EXPENSES&#151;General and administrative expenses for the year ended December&nbsp;31, 2015 were $3.7 million
compared to $3.2 million for the year ended December&nbsp;31, 2014, an increase of $0.5 million or 15.6%. Included in the general and administrative expenses for the years ended December&nbsp;31, 2015 and December&nbsp;31, 2014 are $1.1 million and
$1.3 million, respectively, paid to our manager for the services of the Company&#146;s executive officers pursuant to our management agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">DEPRECIATION&#151;Depreciation expenses for the 48.8 average number of vessels in our fleet for the year ended December&nbsp;31, 2015 were $35.9 million compared to $33.8 million for the 44.1 average
number of vessels in our fleet for the year ended December&nbsp;31, 2014 an increase of $2.1 million, or 6.2%. The increase is due to the higher average number of vessels in our fleet in the 2015 period. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IMPAIRMENT LOSS&#151;During the year ended December&nbsp;31, 2015, the Company recognized an impairment loss of $8.2 million, while for
the year ended December&nbsp;31, 2014 the Company recognized an impairment loss of $6.2 million. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NET GAIN ON SALE OF
VESSELS&#151;During the year ended December&nbsp;31, 2015 we sold two of our oldest vessels, the <I>Gas Kaizen </I>and the <I>Gas Crystal</I> for demolition. The net gain on the sale of these vessels was $33.3 thousands. During the year ended
December&nbsp;31, 2014, we sold two vessels, the <I>Gas Cathar</I> and the <I>Gas Premiership</I>, that were leased back by our Company on a bareboat hire basis for a period of four years. The aforementioned transaction is classified as a sale and
lease back transaction and in accordance with US&nbsp;GAAP </FONT></P>
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ASC, 840-40, the net gain on sale of vessels of $0.8 million, is amortized throughout the lease period of the vessels. Amortization of deferred gain on sale and leaseback of the vessels for the
year ended December&nbsp;31, 2015 was $0.2 million and is included in Charter hire expenses in the consolidated statements of income. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">INTEREST AND FINANCE COSTS&#151;Interest and finance costs were $10.4 million for the year ended December&nbsp;31, 2015 compared to $9.3 million for the year ended December&nbsp;31, 2014, an increase of
$1.1 million, or 11.8%. The increase in interest and finance cost was mainly due to an increase in loan interest expenses as a result to increase in our leverage. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">LOSS ON DERIVATIVES&#151;Included in the results for the year ended December&nbsp;31, 2015 are net losses from interest rate derivative instruments and foreign currency hedging arrangements of $0.4
million. Interest paid on interest rate swap arrangements amounted to $1.4 million for the year ended December&nbsp;31, 2015, compared to $1.9 million for the year ended December&nbsp;31, 2014 and net gains from change in fair value of the same
arrangements amounted to $1.2 million for the year ended December&nbsp;31, 2015 compared to $1.7 million for the year ended December&nbsp;31, 2014. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">INTEREST INCOME&#151;Interest income was $0.2 million for the year ended December&nbsp;31, 2015 compared to $0.5 million for the year ended December&nbsp;31, 2014, a decrease of $0.3 million, related
mostly to lower interest on deposits offered by financial institutions. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NET INCOME&#151;As a result of the above factors, we
recorded a net income of $2.6 million for the year ended December&nbsp;31, 2015, compared to net income of $12.7 million for the year ended December&nbsp;31, 2014. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Year ended December&nbsp;31, 2014 compared to the year ended December&nbsp;31, 2013 </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The average number of vessels in our fleet was 44.1 in the year ended December&nbsp;31, 2014 compared to 39.4 in the year ended December&nbsp;31, 2013. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">REVENUES&#151;Voyage revenues for the year ended December&nbsp;31, 2014 were $132.0 million compared to $121.5 million for the year ended
December&nbsp;31, 2013, an increase of $10.5 million. Total calendar days for our fleet were 16,136 in the year ended December&nbsp;31, 2014 compared to 14,399 for the year ended December&nbsp;31, 2013; the difference was due to the increase in the
average number of vessels in our fleet. Of the total calendar days in 2014, 5,201, or 32.2% were bareboat charter days and 8,692, or 53.9% were time charter days. This compares to 4,944, or 34.3%, bareboat charter days and 6,952, or 48.3%, time
charter days in 2013. Our fleet operational utilization was 93.3% and 92.3% for the years ended December&nbsp;31, 2014 and December&nbsp;31, 2013 respectively. Although rates have decreased, revenues increased in 2014 due primarily to the higher
number of calendar days for our fleet. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">VOYAGE EXPENSES&#151;Voyage expenses were $14.1 million for the year ended
December&nbsp;31, 2014 compared to $14.3 million for the year ended December&nbsp;31, 2013, a decrease of $0.2 million, or 1.4%. This was primarily due the lower number of vessels operating under spot charters. Voyage expenses consisted largely of
bunker charges in the amount of $7.6 million for 2014 compared to bunker charges in the amount of $8.3 million for 2013, a decrease of $0.7 million, due to the decrease in the number of spot charter days. Under spot charters we are responsible for
paying the vessels&#146; bunkers consumption, as well as most expenses. Voyage expenses also included port expenses of $2.3 million for the year ended December&nbsp;31, 2014 compared to $2.1 million for the year ended December&nbsp;31, 2013, an
increase of $0.2 million and commissions to third parties which were $2.1 million for the year ended December&nbsp;31, 2014 compared to $1.8 million for the year ended December&nbsp;31, 2013, an increase of $0.3 million. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">VESSEL OPERATING EXPENSES&#151;Vessel operating expenses were $45.4 million for the year ended December&nbsp;31, 2014 compared to $36.5
million for the year ended December&nbsp;31, 2013, an increase of $8.9 million, or 24.4%. The main reason for this increase was the higher number of vessels in the fleet, as five new </FONT></P>
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vessels were added and two more vessels came off bareboat charters and were operated under time charters during 2014. Other components of vessel operating expenses were spares and consumable
stores, which increased from $5.8 million in the year ended December&nbsp;31, 2013 to $7.1 million in the year ended December&nbsp;31, 2014, while repairs and maintenance costs were $5.2 million in the year ended December&nbsp;31, 2014 compared to
$4.2 million in the year ended December&nbsp;31, 2013. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">DRY DOCKING COSTS&#151;Dry docking costs were $0.5 million for the
year ended December&nbsp;31, 2014 compared to $ 3.2&nbsp;million for the year ended December&nbsp;31, 2013, a decrease of $2.7 million, or 84.4%. Dry docking costs decreased due to a lower number of vessels having to undergo dry docking inspections
in the year ended December&nbsp;31, 2014 compared to the number of vessels that underwent dry docking inspections in the year ended December&nbsp;31, 2013. For the year ended December&nbsp;31, 2014, one vessel was dry docked compared to seven
vessels for the year ended December&nbsp;31, 2013. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">MANAGEMENT FEES&#151;Management fees were $5.5 million for the year ended
December&nbsp;31, 2014 compared to $4.8 million for the year ended December&nbsp;31, 2013, an increase of $0.7 million or 14.6%. The increase was due to the higher average number of vessels in the fleet; 44.1 for the year ended December&nbsp;31,
2014 compared to 39.4 for the year ended December&nbsp;31, 2013. The daily management fees per vessel did not change during these periods. For the year ended December&nbsp;31, 2014, 67.8% of our total calendar days related to vessels under time or
spot charter while for the year ended December&nbsp;31, 2013, 65.7% related to vessels under time or spot charter. Accordingly, both the total number of calendar days due to the increase in the average size of our fleet and the number of time and
spot charter days, for each of which the higher $440 per vessel per day management fee was paid, compared to bareboat charter days, for which the lower $125 per vessel per day management fee was paid, increased in 2014 from 2013. As a result of the
above, management fees increased. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">GENERAL AND ADMINISTRATIVE EXPENSES&#151;General and administrative expenses for the year
ended December&nbsp;31, 2014 were $3.2 million compared to $2.8 million for the year ended December&nbsp;31, 2013, an increase of $0.4 million or 14.3%. Included in the general and administrative expenses for the years ended December&nbsp;31, 2014
and December&nbsp;31, 2013 are $1.3 million and $1.2 million, respectively, paid to our manager for the services of the Company&#146;s executive officers pursuant to our management agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">DEPRECIATION&#151;Depreciation expenses for the 44.1 average number of vessels in our fleet for the year ended December&nbsp;31, 2014
were $33.8 million compared to $30.8 million for the 39.4 average number of vessels in our fleet for the year ended December&nbsp;31, 2013, an increase of $3.0 million, or 9.7%. The increase is due to the higher average number of vessels in our
fleet in the 2014 period. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IMPAIRMENT LOSS&#151;During the year ended December&nbsp;31, 2014, the Company recognized an
impairment loss of $6.2 million on vessels planned to be scrapped within 2015. No impairment loss was recognized in 2013. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NET
GAIN ON SALE OF VESSELS&#151;During the year ended December&nbsp;31, 2014, we sold two vessels, the <I>Gas Cathar</I> and the <I>Gas Premiership</I>, that were leased back by our Company on a bareboat hire basis for a period of four years. The
aforementioned transaction is classified as a sale and lease back transaction and in accordance with US&nbsp;GAAP ASC, 840-40, the net gain on sale of vessels of $0.8 million, will be amortized throughout the lease period of the vessels.
Amortization of deferred gain on sale and leaseback of the vessels for the year ended December&nbsp;31, 2014 was $0.005 million and is included in Charter hire expenses in the consolidated statement of income. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">INTEREST AND FINANCE COSTS&#151;Interest and finance costs were $ 9.3&nbsp;million for the year ended December&nbsp;31, 2014 compared to
$8.2 million for the year ended December&nbsp;31, 2013, an increase of $1.1 million, or 13.4%. The increase in interest and finance cost was mainly due to an increase in commitment costs relating to the financing arranged for vessels that are
currently under construction. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">LOSS ON DERIVATIVES&#151;Included in the results for the year ended December&nbsp;31, 2014
are net losses from interest rate derivative instruments and foreign currency hedging arrangements of $ 1.3 million. Interest paid on interest rate swap arrangements amounted to $1.9 million for the year ended December&nbsp;31, 2014, compared to
$2.8 million for the year ended December&nbsp;31, 2013 and net gains from change in fair value of the same arrangements amounted to $1.7 million for the year ended December&nbsp;31, 2014 compared to $2.8 million for the year ended December&nbsp;31,
2013. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">INTEREST INCOME&#151;Interest income was $0.5 million for the year ended December&nbsp;31, 2014, compared to $0.4
million for the year ended December&nbsp;31, 2013, an increase of $0.1 million, related to higher average cash balances on deposit throughout the year ended December&nbsp;31, 2014 compared to the year ended December&nbsp;31, 2013. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NET INCOME&#151;As a result of the above factors, we recorded a net income of $12.7 million for the year ended December&nbsp;31, 2014,
compared to net income of $21.2 million for the year ended December&nbsp;31, 2013. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>A. Liquidity and Capital Resources </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of December&nbsp;31, 2015, we had cash and cash equivalents of $100.1 million and $13.5 million in restricted cash classified as
current assets. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our principal sources of funds for our liquidity needs are cash flows from operations and long-term bank
borrowings. Additional sources of funds include proceeds from vessel sales and equity offerings. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We had net proceeds of $2.0
million from vessel sales in 2015 and $27.9 million in 2014. We sold the <I>Gas Arctic</I> on January&nbsp;21, 2016 from which we received net proceeds of $1.1 million. We raised capital through a follow-on public common stock offering in the second
quarter of 2013 with net proceeds of $109.1 million and in 2014 through three registered common stock offerings with net proceeds of approximately $112.3 million. Our principal use of funds has been to acquire our vessels, maintain the quality of
our vessels, service our debt and fund working capital requirements, as well to repurchase shares of our common stock as described below. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our liquidity needs, as of December&nbsp;31, 2015 through the end of 2016, primarily relate to scheduled debt repayments, funding expenses for operating our vessels, general and administrative expenses
and capital expenditures related to the acquisition of two LPG carriers. Generally, our primary sources of funds, in the short term, have been cash from operating activities, and, in the long term, bank borrowings and equity financings. As of
April&nbsp;1, 2016 we had already taken the delivery of one LPG carrier. We expect to fund the remaining purchase price of $18.6 million for one newbuilding vessel scheduled to be delivered in the third quarter of 2016, with available cash and
borrowings under a new credit facility for which we have a commitment letter. Beyond 2016, our liquidity needs will additionally include capital expenditures for the remaining balance of the purchase price of four additional LPG carrier newbuildings
which amounts to approximately $145.8 million. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of December&nbsp;31, 2015, we had paid a total of $44.0 million in deposits
for six LPG carrier newbuildings which had a $208.2 million remaining purchase price. The aforementioned amount is payable in the amount of $62.4 million in 2016 and $145.8 million in 2017. From January&nbsp;1, 2016 to April&nbsp;1, 2016, we took
delivery of one newbuilding eco LPG carrier and paid $4.0 million from cash on hand and $15.6 million from new bank borrowings. We expect to fund the remaining amount of the purchase price for the remaining newbuildings through existing and
internally generated funds and new credit facilities. As of April&nbsp;1, 2016 we had obtained commitment letters or entered into loan agreements for three of our newbuildings while for the remaining two we had a signed loan term sheet in respect of
which the commitment of the funds is in the process of bank credit committee approval. The total amount under the aforementioned committed loans is up to $92.5 million and under the loans for which we have a term sheet subject to credit committee
approval expected to be up to $76.0 million, in each case depending on the vessels&#146; employment and market value at the time of their respective deliveries in 2016 and 2017. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of December&nbsp;31, 2015, our aggregate debt outstanding net of capitalized arrangement
fees was $422.2 million, of which $74.9 million was payable within 12 months. This amount includes a balloon payment of approximately $24.6 million which may be refinanced within 2016. We believe our working capital is sufficient for our present
short-term liquidity requirements. If there is a major and sustained downturn in market conditions applicable to our specific shipping industry segment our ability to draw down the full amount of certain of our committed credit facilities may be
restricted. These facilities contain restrictions on the amount of cash that can be advanced to us based on the market value, or in some cases employment, of the vessel in respect of which the advance is being made. We believe our internally
generated cash flows and the borrowings under already arranged credit facilities will be sufficient to fund our operations, including working capital requirements, for at least 12 months taking into account our existing capital commitments and debt
service requirements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For a description of our credit facilities please refer to the discussion under the heading
&#147;&#151;Credit Facilities&#148; below. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;26, 2014, we publicly announced that our Board of Directors had
authorized the repurchase of up to $10,000,000 of shares of our common stock and on February&nbsp;26, 2015 we publicly announced that our Board of Directors had approved an additional $20,000,000 of common stock repurchases. There is no fixed time
period for this repurchase program. As of April&nbsp;1, 2016, 3,859,297 shares of common stock had been repurchased for an aggregate of $20.2 million. Our dividend policy will also affect our liquidity position. See &#147;Item 8. Financial
Information&#151;Dividend Policy.&#148; </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cash Flows </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Net cash provided by operating activities&#151;was $48.1 million for the year ended December&nbsp;31, 2015, $55.2 million for the year ended December&nbsp;31, 2014, and $49.1 million for the year ended
December&nbsp;31, 2013. This represents the net amount of cash, after expenses, generated by chartering our vessels. The decrease in net cash provided by operating activities in 2015 was mainly due to the lower net income as a result of increased
voyage and operating costs due to our fleet expansion and the decline in freight rates that took place in 2015. The increase in net cash provided by operating activities in 2014 was mainly due to the increase in revenues (net of voyage expenses)
generated by operations due to the higher number of vessels in our fleet and the decrease in the drydocking costs which amounted to $3.2 million in 2013, and $0.5 million in 2014 and corresponding to one vessel being drydocked in 2014, compared to
seven vessels drydocked in 2013. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net cash used in investing activities&#151;was $165.0 million for the year ended
December&nbsp;31, 2015, $91.1 million for the year ended December&nbsp;31, 2014 and $119.8 million for the year ended December&nbsp;31, 2013. During 2015, we acquired ten LPG vessels, the <I>Eco Lucidity</I>, the <I>Eco Enigma</I>, the <I>Eco
Galaxy</I>, the <I>Eco Universe</I>, the <I>Eco Royalty</I>, the <I>Eco Loyalty</I>, the <I>Eco Dream</I>, the <I>Eco Green</I>, the <I>Eco Nemesis</I> and the <I>Eco Czar</I>, for which we paid a total of $149.9 million. In addition to payments
related to vessel deliveries for 2015, during the aforementioned year we paid an amount of $5.2 million as advances for the five vessels expected to be delivered in the years 2016 and 2017. With regards to the sale of vessels, during 2015 we sold
two of our oldest vessels, the <I>Gas Kaizen </I>and the <I>Gas Crystal</I>, for demolition, with net sale proceeds of $2.0 million. During 2014, we acquired five LPG vessels, the <I>Eco Stream</I>, the <I>Eco Chios</I>, the <I>Eco Invictus</I>, the
<I>Eco Elysium</I>, and the <I>Eco Corsair</I>, for which we paid $81.6 million. During 2014 we also agreed to acquire sixteen newbuildings for which we paid advances of $48.4 million. During 2014 we sold two vessels, the <I>Gas Cathar</I> and
<I>Gas Premiership</I>, with net proceeds of $27.9 million and we had net proceeds related to the cancellation of vessels acquisition amounting to $10.0 million. During 2013, outflows of $73.2 million reflect payments to the shipyard for the
delivery of the <I>Gas Enchanted</I>, the <I>Gas Alice</I>, the <I>Gas Inspiration</I>, the <I>Gas Ethereal</I>, and the <I>Sakura Symphony</I>, while $51.2 million was paid as a deposit for the acquisition of 11 newbuilding vessels under
construction. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net cash provided by financing activities&#151;was $87.9 million for the year ended December&nbsp;31, 2015
consisting mainly of $155.1 million in proceeds from long-term debt while $55.9 million in loan repayments of which $42.4 million were regular loan installments and $13.5 million was a voluntary repayment of an existing
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">53 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
credit facility. In addition, in the year ended December&nbsp;31, 2015, $13.4 million was spent in relation to the Company&#146;s stock repurchase program. Net cash provided by financing
activities was $79.0 million for the year ended December&nbsp;31, 2014 consisting mainly of $112.3 million net proceeds from common stock issuances, $47.9 million in loan proceeds for the acquisition of five vessels and $75.3 million in loan
repayments of which $42.5 million were regular loan installments, $13.8 million were repayments related to the sale of vessels in 2014 and $19.0 million was a voluntary repayment of an existing credit facility. Net cash provided by financing
activities was $114.6 million for the year ended December&nbsp;31, 2013 consisting principally of $109.1 million net proceeds from common stock issuance, $45.2 million in bank loan proceeds for the acquisition of five vessels and $37.7 million in
loan repayments under existing facilities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As and when we identify assets that we believe will provide attractive returns, we
generally enter into specific term loan facilities and borrow amounts under these facilities as the vessels are delivered to us. This is the primary driver of the timing and amount of cash provided to us by our financing activities, however, from
time to time to bolster our cash position and take advantage of financing opportunities, including to refinance the acquisition cost of vessels acquired earlier, we have entered into and may in the future borrow under credit facilities secured by
previously unencumbered vessels in our then-existing fleet. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Credit Facilities </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We, and certain of our subsidiaries, have entered into a number of credit facilities in connection with financing the acquisition of
certain vessels in our fleet. The following summarizes certain terms of our credit facilities under which we had aggregate outstanding indebtedness of $422.2 million, as of December&nbsp;31, 2015 which is reflected in our balance sheet as
&#147;Long-term debt&#148; and &#147;Current portion of long-term debt.&#148; For a description of our credit facilities also see Note 11 to our consolidated financial statements included elsewhere in this report. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="29%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Credit Facility</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000;width:49pt"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Issue Date</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Outstanding<BR>Principal<BR>Amount (in<BR>millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Maturity</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Installment<BR>Frequency</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Installment<BR>Amount&nbsp;(in<BR>millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balloon<BR>(in<BR>millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Mortgaged</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessels</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="middle"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;5, 2005</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.8</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mar&nbsp;2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">Semi-Annual</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.51</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.8</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Marathon, Gas<BR>Sincerity, Gas<BR>Legacy, Gas<BR>Monarch, Gas<BR>Flawless</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;6, 2006</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jun 2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Semi-Annual</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.05</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Pasha</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;21, 2007</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dec 2017</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Semi-Annual</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Navig8 Fidelity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="middle"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;30, 2008</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19.7</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Nov&nbsp;2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Semi-Annual</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.97</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.97</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Defiance, Gas<BR>Shuriken</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;12, 2008</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Feb 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Navig8 Faith</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">October&nbsp;9, 2008</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Oct 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Semi-Annual</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.97</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Sikousis</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;14, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.1</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Apr 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.55</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.60</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Astrid, Gas<BR>Exelero,&nbsp;Gas&nbsp;Galaxy</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;16, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25.7</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Apr 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.83</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13.2</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Haralambos,<BR>Gas Spirit, Eco<BR>Lucidity</FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">54 </FONT></P>



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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Credit Facility</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000;width:49pt"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Issue Date</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Outstanding<BR>Principal<BR>Amount (in<BR>millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Maturity</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Installment<BR>Frequency</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Installment<BR>Amount&nbsp;(in<BR>millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balloon<BR>(in<BR>millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Mortgaged</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessels</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">January&nbsp;30, 2009</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">27.2</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jul 2016</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.85</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24.60</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spike,&nbsp;Gas&nbsp;Zael</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="middle" ROWSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;1, 2011</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mar 2018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.80</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Elixir</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Apr 2018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.70</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Cerberus</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sept&nbsp;2018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.80</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Myth</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">March&nbsp;1, 2011</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jan 2020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.38</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Husky</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16.3</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jun 2020</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.38</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.50</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Esco</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="middle"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">September&nbsp;23, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33.8</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sept 2020</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.26</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.11</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gas Ethereal, Gas<BR>Alice, Gas<BR>Enchanted, Gas<BR>Inspiration, Gas<BR>Imperiale</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="middle" ROWSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">March&nbsp;24, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mar 2021</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Stream</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jun 2021</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Chios</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jul 2022</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Galaxy</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;12, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Oct 2020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.72</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Invictus</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="middle" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;20, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jan 2023</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.64</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Corsair</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jan 2023</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Elysium</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;29, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jul 2023</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Enigma</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.4</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jul 2023</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.26</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="middle" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.23</FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco&nbsp;Universe</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;4, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aug 2021</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Czar</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.17</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sep&nbsp;2021</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.20</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.50</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco&nbsp;Nemesis</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;20, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15.75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sep 2022</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.25</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Dream</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15.75</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sep 2022</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.25</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.00</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Green</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;24, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dec 2022</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.97</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Royalty</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.2</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dec 2022</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Quarterly</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.19</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.97</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Eco Loyalty</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The interest rates on the outstanding loans as of December&nbsp;31, 2015 are based on Libor plus a margin
which varies from 0.70% to 3.00%. The average interest rates (including the margin) on the above outstanding loans were 2.67% for the year ended December&nbsp;31, 2015 and 2.28% for the year ended December&nbsp;31, 2014. As of December&nbsp;31,
2015, $92.2 million of our outstanding loans were covered by the interest rate swap agreements paying fixed rates ranging from 1.52% to 4.73% and received floating rates based on LIBOR. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I></I>As of April&nbsp;1, 2016, fourteen of our vessels, the <I>Gas Evoluzione</I>, the <I>Gas Texiana</I>, the <I>Stealth Bahla</I>,
the <I>Gas Emperor</I>, the <I>Gas Ice, </I>the <I>Gas Moxie</I>, the <I>Gas Icon,</I> the <I>Gas Prodigy,</I> the <I>Gas Nirvana, the Gas Flawless, the Gas Legacy, the Gas Monarch, the Gas Marathon and the Gas Sincerity </I>were unencumbered. <I>
</I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other than amounts to be drawn down under the new credit facilities for the partial financing of the five LPG vessels
under construction, as further described below, we had no other undrawn borrowing capacity under our existing credit facilities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;1, 2016, we had a commitment letter for a credit facility of up to $18.0 million to partially finance our newbuilding LPG carrier scheduled for delivery in 2016, a commitment letter for
credit facilities of </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">55 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
up to $74.5 million to partially finance two of our 22,000 cbm LPG carrier newbuildings scheduled to be delivered in 2017, and obtained a term sheet from an international lender, which remains
subject to credit committee approval, for credit facilities of up to $76.0 million to partially finance our other two 22,000 cbm LPG carrier newbuildings scheduled to be delivered in 2017, or in each case a lesser amount depending on the
vessels&#146; employment and market value at the time of their respective deliveries. In addition to a first priority mortgage over the vessels being financed, the term loans are expected to be secured by the assignment of the respective
vessels&#146; insurances, earnings, operating and retention accounts and the guarantee of the ship owning subsidiaries. The credit facilities are expected to contain similar events of default and financial covenants as those contained in our other
credit facilities. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Financial Covenants </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our credit facilities contain financial covenants requiring us to: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">ensure that our leverage, which is defined as total debt net of cash/total market adjusted assets, does not at any time exceed 80%;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">maintain a ratio of the aggregate market value of the vessels securing the loan to the principal amount outstanding under such loan (which we sometimes
refer to as the value maintenance or security coverage clause) at all times in excess of a range from 125% to 130% depending on our different loan agreements; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">ensure that our ratio of EBITDA to interest expense over the preceding twelve months is at all times more than 2.5 times; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">to maintain on a monthly basis a cash balance of a proportionate amount of the next installment and relevant interest plus a minimum aggregate cash
balance of $5,146,877 in the earnings account with the relevant banks. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are also required to maintain at
the end of each quarter a free cash balance of $10,000,000. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our current loan agreements also require that our Chief Executive
Officer, Harry Vafias, together with his immediate family, at all times own at least 10% of our outstanding capital stock and certain of our loan agreements provide that it would be an event of default if Harry Vafias ceased to serve as an executive
officer or director of our company, Harry Vafias, together with his immediate family, ceased to control our company or any other person or group controlled 25% or more of the voting power of our outstanding capital stock. In addition, our loan
agreements include restrictions on the payment of dividends in amounts exceeding 50% of our free cash flow in any rolling 12-month period. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our existing credit facility agreements contain customary events of default with respect to us and our applicable subsidiaries, including upon the non-payment of amounts due under the credit facility;
breach of covenants; matters affecting the collateral under such facility; insolvency proceedings and the occurrence of any event that, in light of which, the lender considers that there is a significant risk that the borrowers are, or will later
become, unable to discharge their liabilities as they fall due. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our credit facilities provide that upon the occurrence of an
event of default, the lenders may require that all amounts outstanding under the credit facility be repaid immediately and terminate our ability to borrow under the credit facility and foreclose on the mortgages over the vessels and the related
collateral. Our credit facilities also contain cross-default clauses. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>B. Research and Development, Patents and Licenses </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">None </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">56 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C. Trend Information </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our results of operations depend primarily on the charter hire rates that we are able to realize. In turn, charter rates are determined by the underlying balance in demand and supply for our vessels.
Demand for LPG transportation is influenced by various global economic factors and trade patterns, while the supply is primarily a factor of the fleet growth, determined by the number of vessels in the order book entering the fleet and the number of
vessels exiting the fleet, primarily sold for demolition. As a result, the LPG shipping sector has been a highly cyclical industry experiencing volatility in charter hire rates and vessel values. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">After increasing throughout 2007 and into 2008, charter rates for small LPG carriers declined in the second half of 2008 and in 2009 as a
result of slowdown in the world economy. Although there had been some improvement from the fourth quarter of 2011 to the third quarter of 2014, charter rates have since declined due largely to the dramatic decline in oil prices and rates remain well
below levels reached in 2007 and 2008 and could further decline. Future growth in the demand for LPG carriers and charter rates will depend on economic growth in the world economy and demand for LPG product transportation that exceeds the capacity
of the growing worldwide LPG carrier fleet&#146;s ability to match it. Global financial conditions remain volatile and demand for LPG transportation may decrease in the future. We believe that the future growth in demand for LPG carriers and the
charter rate levels will depend primarily upon the supply and demand for LPG particularly in the economies of the Middle East where large quantities are produced and the Far East, and upon seasonal and regional changes in demand and changes to the
capacity of the world fleet. The capacity of the world shipping fleet appears likely to increase in the near term, although growth in the LPG sector of 3,000 to 8,000 cbm small LPG carriers is expected to be relatively limited in 2016 and 2017.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a result of the volatility and rate declines witnessed in the overall shipping markets during the past few years and the
global financial conditions credit to finance vessel acquisitions has become scarcer. Companies in the shipping sector generally depend on credit facilities, among other, to finance their acquisitions. Scarcity of credit facilities may impede our
ability to grow our fleet. During 2015 we acquired 10 LPG carriers; for all these vessels we had arranged for credit facilities and used them to pay for a portion of the acquisition cost. As of April&nbsp;1, 2016 we have five LPG carriers that are
currently under construction. We have committed credit facilities for three of these vessels while for two of them we have a signed credit term sheet for which the loan commitment is currently under the credit approval process. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>D. Off Balance Sheet Arrangements </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We do not have any off-balance sheet arrangements. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>E. Contractual Obligations </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Contractual obligations as of December&nbsp;31, 2015 were: </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="84%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Payments due by period (in thousands)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Less&nbsp;than&nbsp;1<BR>year&nbsp;(2016)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>1-3 years<BR>(2017-2018)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>3-5 years<BR>(2019-2020)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>More than<BR>5 years<BR>(After<BR>January 1,<BR>2021)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Long-term debt obligations</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">424,660</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75,547</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">107,714</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">135,308</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">106,091</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest on principal amounts outstanding(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">55,932</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,175</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,416</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,647</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,694</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest on interest rate swap arrangements outstanding(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,166</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,148</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">858</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">191</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">($</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management fees(2)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,021</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,347</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,674</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Operating lease</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,648</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,320</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,328</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel purchase commitments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">208,189</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">62,365</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">145,824</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">714,616</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">162,902</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">287,814</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">151,146</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">112,754</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">57 </FONT></P>



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 <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on assumed 3M LIBOR rates of 0.62% for 2016, 0.98% for 2017, 1.24% for 2018, 1.46% for 2019, 1.66% for 2020 and 1.87% thereafter and assumed 6M LIBOR rates of
0.70% for 2016, 1.01% for 2017, 1.27% for 2018, 1.49% for 2019, 1.69% for 2020 and 1.90% thereafter, and the effect of our interest rate swap arrangements. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on our management agreement with Stealth Maritime, we pay it $125 per vessel per day for vessels on bareboat charter and $440 per vessel per day for vessels not
on bareboat charter for our existing fleet (but excluding our contracted vessels). We also pay 1.25% of the gross freight, demurrage and charter hire collected from employment of our ships and 1.0% of the contract price of any vessels bought or sold
on our behalf. </FONT></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Critical Accounting Policies </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The discussion and analysis of our financial condition and results of operations is based upon our consolidated financial statements, which have been prepared in accordance with U.S. GAAP. The preparation
of those financial statements requires us to make estimates and judgments that affect the reported amount of assets and liabilities, revenues and expenses and related disclosure of contingent assets and liabilities at the date of our financial
statements. Actual results may differ from these estimates under different assumptions or conditions. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Critical accounting
policies are those that reflect significant judgments or uncertainties, and potentially result in materially different results under different assumptions and conditions. We have described below what we believe are our most critical accounting
policies that involve a high degree of judgment and the methods of their application. For a description of all of our significant accounting policies, see Note 2 to our consolidated financial statements included elsewhere herein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Impairment or disposal of long-lived assets: </I>We follow the Accounting Standards Codification (&#147;ASC&#148;) Subtopic 360-10,
&#147;Property, Plant and Equipment&#148; (&#147;ASC 360-10&#148;), which requires long-lived assets used in operations be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be
recoverable. We perform an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets in connection, with our performance of an annual review on December&nbsp;31 and whenever indicators of impairment are present.
If the carrying value of the related asset exceeds the undiscounted cash flows and the fair market value of the asset, the carrying value is reduced to its fair value and the difference is recorded as an impairment loss in the consolidated statement
of comprehensive income. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We review certain indicators of potential impairment, such as undiscounted projected operating cash
flows, vessel sales and purchases, business plans and overall market conditions including any regulatory changes that may have a material impact on the vessel lives. The decline in the values of some of the vessels included in our LPG fleet and the
decline in the global economy were considered to be indicators of potential impairment. As of December&nbsp;31, 2015, we performed step one, the undiscounted cash flow test as required by the ASC guidance. We determined undiscounted projected net
operating cash flows for each vessel and compared it to the vessel&#146;s carrying value. This assessment was made at the individual vessel level since separately identifiable cash flow information for each vessel was available. In developing
estimates of future cash flows to be generated over remaining useful lives of the vessels, we made assumptions about the future, such as: (1)&nbsp;vessel charter rates, (2)&nbsp;vessel utilization rates, (3)&nbsp;vessel operating expenses,
(4)&nbsp;dry docking costs, (5)&nbsp;vessel scrap values at the end of vessels&#146; remaining useful lives and (6)&nbsp;the remaining useful lives of the vessels. These assumptions were based on historical trends as well as future expectations in
line with our historical performance and our expectations for future fleet utilization under our current fleet deployment strategy, vessel sales and purchases, and overall market conditions. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Projected cash flows were determined for the vessels by considering the revenues from existing charters for those vessels that have long
term employment, and: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">revenue estimates based on nine year historical average rates (base rate) for periods for which there is no charter in place for vessels of less than
twenty years of age and, </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">58 </FONT></P>



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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">revenue estimates based on five year historical average rates for periods for which there is no charter in place for vessels of twenty years of age and
above, </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">with an annual 1% revenue increase for both categories. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also assumed an average annual inflation rate of 1.5% for operating expenses using as a base rate: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the actual operating expenses as per vessel for the year ended December&nbsp;31, 2015 for the vessels of less than twenty years of age, and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the average operating expenses of the last five years for the vessels of twenty years of age and above. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Utilization rate was assumed to be: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">94.0% for vessels of less than twenty years of age, and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">actual five year historical average utilization rate for the vessels of twenty years of age and above. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on our historical experience and future expectations, we believe the use of different assumptions for these items depending on
whether a vessel is less than 20 years old or 20 years old or more, provides a better estimate of the expected future chartering profile and associated operating expenses for vessels in these different age groups. Although we believe that the
assumptions we use to calculate future cash flows are reasonable and appropriate, such assumptions are highly subjective. Based on these assumptions we determined that the undiscounted cash flows support each vessel&#146;s carrying values as of
December&nbsp;31, 2015 with the exception of three of the oldest vessels of the fleet, the <I>Gas Arctic</I>, the <I>Gas Ice</I>, and <I>the Gas Marathon</I>. The undiscounted net operating cash flows of each of these vessels did not exceed the
respective vessel&#146;s carrying value. As a result, the Company identified and recorded an impairment loss of $ 8,238,987. As of December&nbsp;31, 2014, the Company identified and recorded an impairment loss of $6,168,747. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our impairment test exercise is highly sensitive to variances in future estimates of the time charter rates and useful life of vessels.
Our current analysis, which involved also a sensitivity analysis by assigning possible alternative values to these inputs, indicates that there is no impairment of individual long lived assets. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The carrying values of our vessels may not represent their fair market value at any point in time since the market prices of second-hand
vessels tend to fluctuate with changes in charter rates and the cost of newbuildings. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Sensitivity Analysis.
</I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The impairment test is highly sensitive to variances in future charter rates. When we conducted the analysis of the
impairment test as of December&nbsp;31, 2015 we also performed a sensitivity analysis related to the future cash flow estimates. Set forth below is an analysis, as of December&nbsp;31, 2015, of the percentage difference between the current average
rates for our fleet compared with the base rates used in the impairment test as described above, as well as an analysis of the impact on our impairment analysis if we were to utilize the most recent five-year, three-year and one-year historical
average rates, which shows the number of vessels whose carrying value would not have been recovered and the aggregate carrying value that would not have been recovered. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD ROWSPAN="2" VALIGN="bottom">&nbsp;<FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">Percentage<BR>difference&nbsp;between<BR>our average 2015<BR>rates as compared<BR>with base
rates</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="border-bottom:1px solid #000000"> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">5-year historical<BR>average rate</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="border-bottom:1px solid #000000"> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">3-year historical<BR>average rate</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="border-bottom:1px solid #000000"> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">1-year historical<BR>average rate</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">No of<BR>vessels</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">Amount<BR>($&nbsp;million)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">No of<BR>vessels</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">Amount<BR>($&nbsp;million)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">No of<BR>vessels</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">Amount<BR>($&nbsp;million)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">LPG Carriers</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">-8.87</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Product Carriers</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">-26.76</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aframax Tanker</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">-7.87</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">59 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Although we believe that the assumptions used to evaluate potential impairment are
reasonable and appropriate, such assumptions are highly subjective. There can be no assurance as to how long charter rates and vessel values will remain at their current levels or whether they will improve by any significant degree. Charter rates
may remain at relatively low levels for some time, or decline, which could adversely affect our revenue and profitability, and future assessments of vessel impairment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Based on the carrying value of each of our vessels as of December&nbsp;31, 2015 and what we believe the charter-free market values of each of our vessels was as of December&nbsp;31, 2015, 20 of our 53
owned vessels in the water have current carrying values above their market values (24 of our 45 vessels in the water as at December&nbsp;31, 2014). We believe that the aggregate carrying value of these vessels, assessed separately, exceeds their
aggregate charter-free market value by approximately $54 million and $73 million as of December&nbsp;31, 2015 and 2014, respectively. However, we believe that, with respect to these 20 vessels, except for the <I>Gas Ice</I> and <I>Gas Marathon</I>
for which we recorded an impairment loss as of December&nbsp;31, 2015 and <I>Gas Arctic</I> for which we recorded an impairment loss as of June&nbsp;30, 2015, we will recover their carrying values at the end of their useful lives, based on their
undiscounted cash flows. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We currently do not expect to sell any other of these vessels, or otherwise dispose of them,
significantly before the end of their estimated useful life. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s estimates of market values assume that the
vessels are all in good and seaworthy condition without need for repair and, if inspected, would be certified as being in class without recommendations of any kind. In addition, because vessel values are highly volatile, these estimates may not be
indicative of either the current or future prices that the Company could achieve if it were to sell any of the vessels. The Company would not record an impairment charge for any of the vessels for which the fair market value is below its carrying
value unless and until the Company either determines to sell the vessel for a loss or determines that the vessel&#146;s carrying amount is not recoverable. The Company believes that the undiscounted projected net operating cash flows over the
estimated remaining useful lives for those vessels that have experienced declines in estimated market values below their carrying values exceed such vessels&#146; carrying values as of December&nbsp;31, 2015, and accordingly has not recorded an
impairment charge except for the impairment charge recorded for the vessels <I>Gas Arctic, Gas Ice</I> and <I>Gas Marathon</I> discussed above. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Vessel depreciation: </I>We record the value of our vessels at their cost (which includes acquisition costs directly attributable to the vessel and expenditures made to prepare the vessel for its
initial voyage) less accumulated depreciation. We depreciate our vessels on a straight-line basis over their estimated useful lives, estimated to be 25 to 30 years from date of initial delivery from the shipyard. We believe that a 30-year
depreciable life is consistent with that of other gas vessel owners and reflects management&#146;s intended use and a 25-year depreciable life is consistent with other product carrier vessel owners and reflects management&#146;s intended use.
Depreciation is based on cost less the estimated residual scrap value. An increase in the useful life of the vessel or in the residual value would have the effect of decreasing the annual depreciation charge and extending it into later periods. A
decrease in the useful life of the vessel or in the residual value would have the effect of increasing the annual depreciation charge. No events or circumstances occurred in 2015 that would require us to revise estimates related to depreciation and
such revisions are not expected to occur in the future. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>G. Safe Harbor </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">See section &#147;Forward-Looking Information&#148; at the beginning of this annual report. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">60 </FONT></P>



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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_9"></A>Item&nbsp;6.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Directors, Senior Management and Employees </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>A. Directors, Senior Management and Employees </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following table sets forth, as of April&nbsp;1, 2016, information for each of our directors and executive officers. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
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<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
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<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Age</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Positions</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year<BR>Became<BR>Director</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year<BR>Director&#146;s<BR>Current<BR>Term<BR>Expires</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Harry N. Vafias</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">38</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief&nbsp;Executive,&nbsp;Chief&nbsp;Financial&nbsp;Officer&nbsp;and&nbsp;Class&nbsp;III&nbsp;Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2004</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael G. Jolliffe</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">66</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairman of the Board, Class II Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2004</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2016</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lambros Babilis</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">48</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deputy Chairman and Class I Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2007</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2017</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Markos Drakos</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Class III Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2006</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">John Kostoyannis</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Class II Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2010</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2016</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certain biographical information about each of these individuals is set forth below. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Harry N. Vafias </I>has been our President and Chief Executive Officer and a member of our Board of Directors since our inception in
December 2004 and our Chief Financial Officer since January 2014. Mr.&nbsp;Vafias has been actively involved in the tanker and gas shipping industry since 1999. Mr.&nbsp;Vafias worked at Seascope, a leading ship brokering firm specializing in sale
and purchase of vessels and chartering of oil tankers. Mr.&nbsp;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&#146;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.&nbsp;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.
Mr.&nbsp;Vafias graduated 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. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Michael G. Jolliffe</I> has been Chairman of our Board of Directors since 2004. He is a director of a number of companies in shipping,
agency representation, shipbroking, capital services, mining and telemarketing. Mr.&nbsp;Jolliffe is Deputy Chairman of Tsakos Energy Navigation Ltd, an oil, product carrier and LNG shipping company listed on the New York Stock Exchange. He is also
Chairman of the Wighams Group of companies owning companies involved in shipbroking, agency representation and capital markets businesses. Mr.&nbsp;Jolliffe is also the Chairman of Papua Mining Plc a gold and copper mining company quoted on the
London AIM market. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Lambros Babilis </I>has been Deputy Chairman of our Board of Directors and an Executive Director since
2007. Mr.&nbsp;Babilis was the Technical Manager of Stealth Maritime Corporation from 2006 until 2011 when he became the Chief Operating Officer, and has worked for the Stealth Maritime Corporation since 2000. From 1997 until 2000, Mr.&nbsp;Babilis
worked in the Technical Department of Multi Trading Ship Management, a company specializing in chemical tankers. From 1993 until 1997, Mr.&nbsp;Babilis worked in a consulting or research capacity for various EEC Shipping related projects and worked
as a consultant to shipping companies and as a representative of the Technical Chamber of Greece to the Joint Committee of Health and Safety of Ship Repair (Perama Zone). In addition, from 1996 until 1997, Mr.&nbsp;Babilis was involved in the
construction of the Landing Ships at Eleusis Shipyards (Detachment of Hellenic Navy). From 1992 until 1993, Mr.&nbsp;Babilis worked for an international consortium, including PricewaterhouseCoopers and Port and Transport Consulting of Bremen, for
the design of the Port Management Information System of Piraeus Port Authority. Mr.&nbsp;Babilis started his career in the Operations Department of Trade and Transport Inc. Mr.&nbsp;Babilis has been involved in the research center of Athens
University of Economics and Business and in the Ocean Transportation Economics department at the National Technical University of Athens. From 1994 until 1996, Mr.&nbsp;Babilis was the General Secretary of the Hellenic Association of Naval
Architects. Mr.&nbsp;Babilis graduated from the National Technical University of Athens, department of Naval Architecture and Marine Engineering, in 1990, and received an honorary scholarship from the Hellenic Scholarship foundation. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">61 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Markos Drakos</I> has been a member of our Board of Directors since 2006 and Chairman of
our Audit Committee. In 1988, Mr.&nbsp;Drakos co-founded Touche Ross&nbsp;&amp; Co (Cyprus), later renamed Deloitte&nbsp;&amp; Touche, Nicosia and served as co-managing partner of the company&#146;s Nicosia office in Cyprus until 2002. Following the
December 2002 reorganization of Deloitte&nbsp;&amp; Touche, Nicosia, Mr.&nbsp;Drakos founded Markos Drakos Consultants Group, a consulting company, which served as successor to the consulting, special services and international business division of
Deloitte&nbsp;&amp; Touche, Nicosia. From 2000 until 2003, Mr.&nbsp;Drakos also served as Vice Chairman of the Cyprus Telecommunications Authority, the leading telecommunications company in Cyprus. Mr.&nbsp;Drakos has also served as a member of the
Offshore, Shipping&nbsp;&amp; Foreign Investment Committee of the Institute of Certified Public Accountants of Cyprus. Mr.&nbsp;Drakos received a Bachelor of Science degree in Economics from the London School of Economics and is a Fellow of the
Institute of Chartered Accountants in England and Wales and a member of the Institute of Certified Public Accountants of Cyprus. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>John Kostoyannis </I>joined our Board of Directors in 2010. Mr.&nbsp;Kostoyannis is a Managing Director at Allied Shipbroking Inc., a leading shipbroking house in Greece, providing Sale and Purchase
and Chartering services in the shipping industry. Before joining Allied Shipbroking, from 1991 until September 2001, Mr.&nbsp;Kostoyannis worked in several prominent shipbroking houses in London and Piraeus. He is a member of the Hellenic
Shipbrokers Association. Mr.&nbsp;Kostoyannis graduated from the City of London Polytechnic in 1988 where he studied Shipping and Economics. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>B. Compensation of Directors and Senior Management </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Chairman of our Board of Directors receives annual fees of $70,000, plus reimbursement for his out-of-pocket expenses, while each of our other independent directors receives fees of up to $35,000 per
annum, plus reimbursement of their out-of-pocket expenses. Executive directors received no compensation for their services as directors. We do not have service contracts with any of our directors. In addition, we have not paid any compensation to
our executive officers. Under our management agreement with Stealth Maritime, we reimburse Stealth Maritime for its payment of the compensation to our Chief Executive Officer, Chief Financial Officer, Deputy Chairman and Executive Director and
Internal Auditor and, beginning in 2014, our Chief Technical Officer. The aggregate of such compensation for 2013, 2014 and 2015 was $1.2 million, $1.3 million and $1.1 million, respectively. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our executive officers and directors are also eligible to receive awards under our equity compensation plan described below under
&#147;&#151;Equity Compensation Plan.&#148; In November 2014, we awarded an aggregate of 230,713 restricted shares of common stock to directors and officers, 50% of which vested on November&nbsp;20, 2015 and 25% of which vest on each of the second
and third anniversaries of grant. The restricted shares are subject to forfeiture until they become vested. We did not grant any awards under our equity compensation plan to directors or officers of the Company during the years ended
December&nbsp;31, 2015 and 2013. We recognized share-based compensation expense of $0.3 million, $0.4 million and $1.1 million in 2013, 2014 and 2015, respectively. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>C. Board Practices </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Board of Directors may change the number of
directors by a vote of a majority of the entire Board. Each director is elected to serve until the third succeeding annual meeting of stockholders and until his or her successor shall have been duly elected and qualified, except in the event of
death, resignation or removal. A vacancy on the board created by death, resignation, removal (which may only be for cause), or failure of the stockholders to elect the entire class of directors to be elected at any election of directors or for any
other reason, may be filled only by an affirmative vote of a majority of the remaining directors then in office, even if less than a quorum, at any special meeting called for that purpose or at any regular meeting of the board of directors. Our
Board of Directors is divided into three classes with only one class of directors being elected in each year and each class serving a three-year term. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">At December&nbsp;31, 2015 and April&nbsp;1, 2016, we had five members on our Board of Directors named above. Our Board of Directors has determined that Michael G. Jolliffe, Markos Drakos and John
Kostoyannis are independent directors within the meaning of the applicable Nasdaq listing requirements and SEC independence </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">62 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
requirements applicable to Audit Committee members since none of them has received any compensation from the Company except for director&#146;s fees and restricted stock awards to directors and
none of them has any relationship or has had any transaction with the Company which the Board believes would compromise their independence. Officers are elected from time to time by vote of our Board of Directors and hold office until a successor is
elected. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have no service contracts with any of our directors that provide for benefits upon termination of employment.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">During the fiscal year ended December&nbsp;31, 2015, the full Board of Directors held four meetings. Each director attended
all of the meetings of the Board of Directors and meetings of committees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">To promote open discussion among the independent
directors, those directors met four times in 2015 in regularly scheduled executive sessions without participation of our Company&#146;s management and will continue to do so in the remainder of 2016 and in 2017. Mr.&nbsp;Jolliffe has served as the
presiding director for purposes of these meetings. Stockholders who wish to send communications on any topic to the Board of Directors or to the independent directors as a group, or to the presiding director, Mr.&nbsp;Jolliffe, may do so by writing
to StealthGas Inc., 331 Kifissias Avenue, Erithrea 14561 Athens, Greece. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Corporate Governance </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Board of Directors and our Company&#146;s management reviews our corporate governance practices in order to oversee our compliance
with the applicable corporate governance rules of the Nasdaq Stock Market and the SEC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have adopted a number of key
documents that are the foundation of our corporate governance, including: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a Code of Business Conduct and Ethics; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a Nominating and Corporate Governance Committee Charter; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a Compensation Committee Charter; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">an Audit Committee Charter. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We will provide a paper copy of any of these documents upon the written request of a stockholder. Stockholders may direct their requests to the attention of Investor Relations, c/o Harry Vafias,
StealthGas Inc., 331 Kifissias Avenue, Erithrea 14561 Athens, Greece. These documents are also available on our website at www.stealthgas.com under the heading &#147;Corporate Governance.&#148; </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Committees of the Board of Directors </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Board of Directors has established an Audit Committee, a Nominating and Corporate Governance Committee and a Compensation Committee. As of April&nbsp;1, 2016, the Audit Committee consists of Messrs.
Markos Drakos (Chairman), Michael Jolliffe, and John Kostoyannis. The Nominating and Corporate Governance Committee consists of Messrs. Michael Jolliffe (Chairman), Markos Drakos and John Kostoyannis. The Compensation Committee consists of Messrs.
Michael Jolliffe (Chairman), Markos Drakos and John Kostoyannis. Each of the directors on these committees has been determined by our Board of Directors to be independent under the standards of the Nasdaq Stock Market, and, in the case of the Audit
Committee, the Securities and Exchange Commission. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">63 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Audit Committee </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Audit Committee is governed by a written charter, which is approved and annually adopted by the Board. The Board has determined that the members of the Audit Committee meet the applicable independence
requirements of the SEC and the Nasdaq Stock Market, that all members of the Audit Committee fulfill the requirement of being financially literate and that Mr.&nbsp;Drakos is an Audit Committee financial expert as defined under current SEC
regulations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Audit Committee is appointed by the Board and is responsible for, among other matters, overseeing the:
</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">integrity of the Company&#146;s financial statements, including its system of internal controls; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Company&#146;s compliance with legal and regulatory requirements; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">independent auditor&#146;s appointment, qualifications and independence; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">retention, setting of compensation for, termination and evaluation of the activities of the Company&#146;s independent auditors, subject to any
required shareholder approval; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">performance of the Company&#146;s independent audit function and independent auditors, as well preparing an Audit Committee Report to be included in
our annual proxy statement. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Nominating and Corporate Governance Committee </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Nominating and Corporate Governance Committee is appointed by the Board and is responsible for, among other matters: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">reviewing the Board structure, size and composition and making recommendations to the Board with regard to any adjustments that are deemed necessary;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">evaluating and recommending to the Board the slate of nominees for directors to be elected by the stockholders at the Company&#146;s next annual
meeting of stockholders and, where applicable, to fill vacancies; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">recommending to the Board the responsibilities of the Board committees, including each committee&#146;s structure, operations, and authority to
delegate to subcommittees; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">evaluating and recommending to the Board those directors to be appointed to the various Board committees, including the persons recommended to serve as
chairperson of each committee; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">reviewing annually the compensation of non-employee directors and the principles upon which such compensation is determined;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">consulting with the Chief Executive Officer, as appropriate, and other Board members to ensure that its decisions are consistent with the sound
relationship among the Board, Board committees, individual directors and management; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">overseeing the Board&#146;s annual evaluation of its own performance and the performance of other Board committees; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">retaining, setting compensation and retentions terms for and terminating any search firm to be used to identify candidates; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">developing and recommending to the Board for adoption a set of Corporate Governance Guidelines applicable to the Company and periodically reviewing the
same. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Compensation Committee </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Compensation Committee is appointed by the Board and is responsible for, among other matters: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">establishing and periodically reviewing the Company&#146;s compensation programs; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">administering the Company&#146;s equity compensation plan; </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">64 </FONT></P>



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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">reviewing the performance of directors, officers and employees of the Company who are eligible for awards and benefits under any plan or program and
adjust compensation arrangements as appropriate based on performance; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">reviewing and monitoring management development and succession plans and activities; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">from time to time when necessary, reviewing with the Chief Executive Officer the latter&#146;s proposed succession plan for each executive officer and
the Chief Executive Officer&#146;s evaluation of each such executive officer; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">in case of unexpected unavailability, reviewing with the Board the Company&#146;s succession plan for the CEO and other executive officers, including
plans for emergency succession; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">retaining, setting compensation and retention terms for, and terminating any consultants, legal counsel or other advisors that the Compensation
Committee determines to employ to assist it in the performance of its duties; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">preparing any Compensation Committee report included in our annual proxy statement. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>D. Employees </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our
manager employs and provides us with the services of our Chief Executive Officer and Chief Financial Officer, our Deputy Chairman and Executive Director, our Internal Auditor and, beginning in 2014, our Chief Technical Officer. In each case, their
services are provided under the management agreement with Stealth Maritime. Stealth Maritime compensates each of these individuals for their services and we, in turn, reimburse Stealth Maritime for their compensation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of December&nbsp;31, 2015, 446 officers and 459 crew members served on board the vessels in our fleet. However, these officers and
crew are not directly employed by the Company. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>E. Share Ownership </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The shares of common stock beneficially owned by our directors and senior managers and/or companies affiliated with these individuals are
disclosed in &#147;Item 7. Major Shareholders and Related Party Transactions&#148; below. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Equity Compensation Plan </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have an equity compensation plan, the 2015 Equity Compensation Plan (the &#147;2015 Plan&#148;), which was approved by our stockholders
on September&nbsp;17, 2015 and replaced our previous equity compensation plan (the &#147;2007 Plan&#148;) which expired in August 2015. The 2015 Plan is generally administered by the Compensation Committee of our Board of Directors, except that the
full board may act at any time to administer the 2015 Plan, and authority to administer any aspect of the 2015 Plan, other than grants of awards to executive officers and as prohibited by law or stock exchange regulation, may be delegated by our
Board of Directors or by the Compensation Committee to an executive officer or any other person. The 2015 Plan allows the plan administrator to grant awards of shares of our common stock or the right to receive or purchase shares of our common stock
(including options to purchase common stock, restricted stock and stock units, bonus stock, share units, performance units, and stock appreciation rights) to officers, directors or other persons or entities providing significant services to us or
our subsidiaries. The actual terms of an award, including the number of shares of common stock relating to the award, any exercise or purchase price, any vesting, forfeiture or transfer restrictions, the time or times of exercisability for, or
delivery of, shares of common stock, are determined by the plan administrator and set forth in a written award agreement with the participant. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The aggregate number of shares of our common stock for which awards may be granted under the 2015 Plan cannot exceed 10% of the number of shares of our common stock issued and outstanding at the time any
award is </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">65 </FONT></P>



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granted. Awards made under the 2015 Plan that have been forfeited (including our repurchase of shares of common stock subject to an award for the price, if any, paid to us for such shares of
common stock, or for their par value), cancelled or have expired, will not be treated as having been granted for purposes of the preceding sentence. In November 2014, we awarded an aggregate of 230,713 restricted shares of common stock to directors
and officers, 50% of which vested on November&nbsp;20, 2015 and 25% of which vest on each of the second and third anniversaries of grant. No equity awards were made for the years ended December&nbsp;31, 2015 and 2013. As of April&nbsp;1, 2016, no
awards had been granted under the 2015 Plan and awards with respect to 555,479 shares of our common stock were granted under our 2007 Plan from its adoption in 2005 to its expiration in August 2015. As of April&nbsp;1, 2016, there are 115,357
unvested shares of restricted stock under the 2007 Plan, of which 57,678 restricted shares will vest on November&nbsp;20, 2016 and the remaining 57,678 restricted shares will vest on November&nbsp;20, 2017, subject to the respective recipients&#146;
continued service to the Company. Awards previously granted under our 2007 Plan will continue to be governed by such plan. No additional awards can be granted under our 2007 Plan. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The 2015 Plan permits the plan administrator to make an equitable adjustment to the number, kind and exercise price per share of awards
in the event of our recapitalization, reorganization, merger, spin-off, share exchange, dividend of common stock, liquidation, dissolution or other similar transaction or events. In addition, the plan administrator may make adjustments in the terms
and conditions of any awards in recognition of any unusual or nonrecurring events. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Except in connection with a corporate
transaction, including any stock dividend, distribution, stock split, extraordinary cash dividend, recapitalization, change in control, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of common shares
or other securities, or similar transactions, we may not, without obtaining stockholder approval, (i)&nbsp;amend the terms of outstanding stock options or stock appreciation rights to reduce the exercise price of such outstanding stock options or
base price of such stock appreciation rights, (ii)&nbsp;cancel outstanding stock options or stock appreciation rights in exchange for stock options or stock appreciation rights with an exercise price or base price, as applicable, that is less than
the exercise price or base price of the original stock options or stock appreciation rights or (iii)&nbsp;cancel outstanding stock options or stock appreciation rights with an exercise price or base price, as applicable, above the current stock
price in exchange for cash or other securities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The 2015 Plan provides for &#147;double trigger vesting&#148; after a change
in control. Unless the plan administrator determines otherwise, if a change in control occurs in which the Company is not the surviving corporation (or the Company survives only as a subsidiary of another corporation), all outstanding awards that
are not exercised or paid at the time of the change in control will be assumed by, or replaced with awards that have comparable terms by, the surviving corporation (or a parent or subsidiary of the surviving corporation). Unless the award agreement
provides otherwise, if a participant&#146;s employment is terminated by us without cause, or the participant terminates employment for good reason, in either case within 12 months following the change in control, the participant&#146;s outstanding
awards will become fully vested as of the date of termination. If the vesting of any such award is based, in whole or in part, on performance, the applicable award agreement will specify how the portion of the award that becomes vested upon
termination will be calculated. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the event of a change in control, if all outstanding awards are not assumed by, or
replaced with awards with comparable terms by, the surviving corporation (or a parent or subsidiary of the surviving corporation), the plan administrator may take any of the following actions with respect to any or all outstanding awards, without
the consent of any participant: (i)&nbsp;may determine that outstanding stock options and stock appreciation rights will automatically accelerate and become fully exercisable, and the restrictions and conditions on outstanding awards will
immediately lapse; (ii)&nbsp;may determine that participants will receive a payment in settlement of outstanding awards in such amount and form as may be determined by the plan administrator; (iii)&nbsp;may require that participants surrender their
outstanding stock options and stock appreciation rights in exchange for a payment, in cash or stock as determined by the plan administrator, equal to the amount (if any) by which the fair market value of the shares of common stock subject to the
unexercised stock option and stock appreciation right exceed the </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">66 </FONT></P>



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stock option exercise price or base price and (iv)&nbsp;the plan administrator may terminate outstanding stock options and stock appreciation rights after giving participants an opportunity to
exercise the outstanding stock options and stock appreciation rights. Such surrender, termination or payment will take place as of the date of the change in control or such other date as the plan administrator may specify. If the per share fair
market value of our stock does not exceed the per share exercise price or base price, as applicable, we will not be required to make any payment to the participant upon surrender of the stock option or stock appreciation right. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Board of Directors may, at any time, alter, amend, suspend or discontinue the 2015 Plan. The 2015 Plan will automatically terminate
ten years after it has been most recently approved by our stockholders. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_10"></A>Item&nbsp;7.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Major Shareholders and Related Party Transactions </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>A. Major Shareholders </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following table sets forth certain information
regarding the beneficial ownership of our outstanding shares of common stock as of April&nbsp;1, 2016 by: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">each person or entity that we know beneficially owns 5% or more of our shares of common stock; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our Chief Executive Officer and our other members of senior management; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">each of our directors; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">all of our current directors and executive officers as a group. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Beneficial ownership is determined in accordance with the rules of the SEC. In general, a person who has or shares voting power and/or
dispositive power with respect to securities is treated as a beneficial owner of those securities. It does not necessarily imply that the named person has the economic or other benefits of ownership. For purposes of this table, shares subject to
options, warrants or rights currently exercisable or exercisable within 60 days of April&nbsp;1, 2016 are considered as beneficially owned by the person holding such options, warrants or rights. Each shareholder is entitled to one vote for each
share held. The applicable percentage of ownership for each shareholder is based on 39,873,498 shares of common stock outstanding as of April&nbsp;1, 2016. Information for certain holders is based on their latest filings with the Securities and
Exchange Commission or information delivered to us. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Shares Beneficially Owned</B></FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of Beneficial Owner</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Percentage</B></FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Principal Stockholders</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Flawless Management Inc.(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,000,000</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.0%</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">MSDC Management, L.P.(2)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,708,819</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.3%</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">FMR LLC(3)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,168,889</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.9%</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Redwood Capital Management, LLC(4)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,415,287</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.1%</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Executive Officers and Directors</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Harry N. Vafias(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,418,094</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.1%</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael G. Jolliffe</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lambros Babilis</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Markos Drakos</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">John Kostoyannis</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">All executive officers and directors as a group (5 persons)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,505,347</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.3%</FONT></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;*</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Less than 1%. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">According to Amendment No.&nbsp;3 to a Schedule 13G jointly filed with the SEC on February&nbsp;17, 2015 by Flawless Management Inc. and Harry N. Vafias, Harry N.
Vafias beneficially owns 4,418,094 shares of common stock, of which 4,000,000 shares are owned by Flawless Management Inc. Harry N. Vafias has sole voting power and sole dispositive power with respect to all such shares. Excludes any shares of
common stock which maybe held by members of Mr.&nbsp;Vafias&#146; immediate family in accordance with the determination of beneficial ownership under Section&nbsp;13(d) of the Securities Exchange Act of 1934. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">67 </FONT></P>



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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">According to Amendment No.&nbsp;2 to a Schedule 13G jointly filed by and on behalf of each of MSDC Management, L.P. (&#147;MSDC&#148;) and MSD Credit Opportunity Master
Fund, L.P. with the SEC on February&nbsp;16, 2016, MSDC is the investment manager of, and may be deemed to beneficially own 3,708,819 shares of common stock beneficially owned by, MSD Credit Opportunity Master Fund, L.P. and has sole voting power
and joint dispositive power with respect to all such shares. </FONT></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">According to Amendment No.&nbsp;1 to a Schedule 13G jointly filed by and on behalf of each of FMR LLC, Edward C. Johnson 3d, Abigail P. Johnson and Select Energy
Service Portfolio with the SEC on February&nbsp;12, 2016. </FONT></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">According to Amendment No.&nbsp;2 to a Schedule 13G jointly filed by and on behalf of each Redwood Capital Management, LLC, Redwood Master Fund, Ltd. and Jonathan
Kolatch, which may each be deemed to have shared voting power and joint dispositive power with respect to all such shares, on February&nbsp;11, 2016. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We effected a registered public offering of our common stock and our common stock began trading on the Nasdaq National Market in October 2005. Our major stockholders have the same voting rights as our
other shareholders. As of April&nbsp;1, 2016, we had approximately 18 shareholders of record. Four of the stockholders of record were located in the United States and held in the aggregate 34,943,247 shares of common stock representing approximately
87.6% of our outstanding shares of common stock. However, the four United States shareholders of record include CEDEFAST, which, as nominee for The Depository Trust Company, is the record holder of 34,941,947 shares of common stock. Accordingly, we
believe that the shares held by CEDEFAST include shares of common stock beneficially owned by both holders in the United States and non-United States beneficial owners. As a result, these numbers may not accurately represent the number of beneficial
owners in the United States. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are not aware of any arrangements the operation of which may at a subsequent date result in a
change of control of the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;26, 2014, we publicly announced that our Board of Directors had authorized
the repurchase of up to $10,000,000 of shares of our common stock and on February&nbsp;26, 2015 we publicly announced that our Board of Directors had approved an additional $20,000,000, of common stock repurchases. Shares may be purchased from time
to time in open market or privately negotiated transactions, which may include derivative transactions, at times and prices that are considered to be appropriate by the Company and the program may be discontinued at any time. There is no fixed time
period for this repurchase program. As of April&nbsp;1, 2016, 3,859,297 shares of common stock had been repurchased (843,022 in 2014, 2,372,097 in 2015 and 644,178 in 2016), for an aggregate of $20.2 million. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>B. Related Party Transactions </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Pursuant to our Audit Committee Charter, our Audit Committee is responsible for establishing procedures for the approval of all related party transactions involving executive officers and directors, which
procedures require the audit committee to approve any such transaction. Our Code of Business Conduct and Ethics requires our Audit Committee to review and approve any &#147;related party&#148; transaction as defined in Item&nbsp;7.B of Form 20-F
before it is consummated. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Management Affiliations </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Harry Vafias, our president, chief executive officer and one of our directors, is an officer, director and the sole shareholder of Flawless Management Inc., our largest stockholder. He is also the son of
the principal and founder of Brave Maritime, an affiliate of Stealth Maritime, which is our management company. Stealth Maritime subcontracts the technical management of some of our LPG carriers to Brave Maritime the fees for which technical
management services are paid by Stealth Maritime out of the fees we pay to it as described below. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">68 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Management and Other Fees </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have a management agreement with Stealth Maritime, pursuant to which Stealth Maritime provides us with technical, administrative,
commercial and certain other services. In relation to the technical services, Stealth Maritime is responsible for arranging for the crewing of the vessels, the day to day operations, inspections and vetting, supplies, maintenance, repairs, bunkering
drydocking and insurance. Administrative functions include but are not limited to accounting, back-office, reporting, legal and secretarial services. In addition, Stealth Maritime provides services for the chartering of our vessels and monitoring
thereof, freight collection, and sale and purchase. In providing most of these services, Stealth Maritime pays third parties and receives reimbursement from us. Under the management agreement Stealth Maritime may subcontract certain of its
obligations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the year ended December&nbsp;31, 2015, we paid Stealth Maritime a fixed management fee of $440 per vessel
operating under a voyage or time charter per day, pro-rated for the calendar days we own the vessels. We paid a fixed fee of $125 per vessel per day for each of our vessels operating on bareboat charter. These fixed daily fees are based on the
management agreement with Stealth Maritime and have not changed since 2007. Management fees for the years ended December&nbsp;31, 2013, 2014 and 2015 were $4.8 million, $5.5 million and $6.5 million, respectively. In addition, our manager arranges
for supervision onboard the vessels, when required, by superintendent engineers and when such visits exceed a period of five days in a twelve-month period we are charged $500 for each additional day. In the years ended December&nbsp;31, 2013, 2014
and 2015 we paid $0.15 million, $0.17 million and $0.25 million, respectively, related to onboard supervision. We pay our manager, Stealth Maritime, a fee equal to 1.25% of the gross freight, demurrage and charter hire collected from the employment
of our vessels. For the years ended December&nbsp;31, 2013, 2014 and 2015, total brokerage commissions of 1.25% amounted to $1.5 million, $1.6 million and $1.7 million, respectively, and were included in our income statement under &#147;Voyage
expenses&#151;related party.&#148; Stealth Maritime also receives a fee equal to 1.0% calculated on the price as stated in the relevant memorandum of agreement for any vessel bought or sold by them on our behalf. For the years ended
December&nbsp;31, 2013, 2014 and 2015, the amounts of $0.7 million, $1.0 million and $1.9 million, respectively, were capitalized to the cost of the vessels in respect of the 1.0% purchase fee. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the years ended December&nbsp;31, 2014 and 2015, the amounts of $0.3 million and $0.02 million, respectively, were recognized as
commission expenses relating to the sale of vessels and are included in our consolidated statements of income under the caption &#147;Net (gain)/loss on sale of vessels&#148;. For the year ended December&nbsp;31, 2013 no such commission expense was
recognized as no sale of vessel occurred. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also reimburse Stealth Maritime for its payment for executive services related
to our Chief Executive Officer, Deputy Chairman and Executive Director, Chief Financial Officer, Internal Auditor and Chief Technical Officer. During the years ended December&nbsp;31, 2013, 2014 and 2015, such compensation was in the aggregate
amount of $1.2 million, $1.3 million and $1.1 million, respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Additional vessels that we may acquire in the future may
be managed by Stealth Maritime or other unaffiliated management companies. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The initial term of our management agreement with
Stealth Maritime expired in June 2010 but is extended on a year-to-year basis thereafter unless six-month written notice is provided prior to the expiration of the term. Such notice has not been given by either party. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On May&nbsp;26, 2014, we entered into an agreement with Brave Maritime for the supervision of the construction of eight of our
newbuilding vessels for a fixed fee of Euro 390,000&nbsp;per vessel. On February&nbsp;24, 2016, we entered into a new supervision agreement with Brave Maritime for the supervision of the construction of our four 22,000 cbm semi- refrigerated
newbuilding vessels at Euro 490,000&nbsp;per ship. For the years ended December&nbsp;31, 2015 and 2014, the supervision fees amounted to $1,726,265 and $984,204, respectively, and were capitalized to the cost of the respective vessels. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">69 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Right of First Refusal </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As long as Stealth Maritime (or an entity with respect to which Harry N. Vafias is an executive officer, director or shareholder) is our
fleet manager or Harry N. Vafias, is an executive officer or director of the Company, Stealth Maritime has granted us a right of first refusal to acquire any LPG carrier, which Stealth Maritime may acquire in the future. Stealth Maritime has also
agreed that it will not charter-in any LPG carrier without first offering the opportunity to charter-in such vessel to us. Our President and Chief Executive Officer Harry N. Vafias has granted us an equivalent right with respect to any entity that
he is an executive officer, director or principal shareholder of, so long as he is an executive officer or director of us. This right of first refusal does not prohibit Stealth Maritime or an entity controlled by Mr.&nbsp;Vafias from managing
vessels owned by unaffiliated third parties in competition with us, nor does it cover product carriers or crude oil tankers. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Office
Space </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We lease office space from an entity affiliated with Stealth Maritime. In the years ended December&nbsp;31,
2013, 2014 and 2015, we made lease payments of $78,070, $76,788 and $72,753, respectively. The lease rate for 2016 is &#128;66,000&nbsp;per year. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Vessel Charters and Acquisitions </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In April 2012, we entered into
time charter out agreements with an entity affiliated with members of the Vafias family for the vessels <I>Alpine Endurance</I> (renamed <I>Stealth Bahla</I>) and <I>Gas Esco</I>. The <I>Alpine Endurance</I> charter commenced in June 2012, upon its
delivery from the previous charterer. The duration of the charter is four years and there is an option to extend the charter for an additional year. The five-year charter for the <I>Gas</I> <I>Esco</I> commenced in June 2012. Revenues from these two
charters for the years ended December&nbsp;31, 2013, 2014 and 2015 were $9.8 million, $9.8 million and $9.8 million, respectively, which are recorded in our income statement under &#147;Revenues&#151;related party&#148;. The vessel operating
expenses in accordance with the terms of the respective time charter agreements for the <I>Stealth Bahla</I> and the <I>Gas Esco</I>, for the years ended December&nbsp;31, 2013, 2014 and 2015, were $3.9 million, $3.9 million and $3.9 million,
respectively, which are recorded in our income statement under &#147;Vessel Operating Expenses&#151;related party.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In
August 2012, we entered into separate memoranda of agreements with an affiliated company of the Vafias Group to acquire four LPG carriers under construction that were scheduled to be delivered during 2014 (the delivery of which was subsequently
rescheduled to the first half of 2015). The aggregate purchase price of these vessels was $96.0 million. As provided by the agreements an advance payment of $19.2 million was paid on September&nbsp;8, 2012. In July 2014, the acquisition of two of
the above LPG carriers was cancelled, and in September 2014 we collected the full amount of the advances paid to the affiliated company with the capitalized interest, totaling to $10.0 million. The remaining two vessels, &#147;Eco Dream&#148; and
&#147;Eco Green&#148;, were delivered to the Company on August&nbsp;18, 2015 and on September&nbsp;25, 2015, respectively, at which time the remainder of the purchase price of the respective vessels was paid. The acquisition price for these vessels
was set at the average of the assessed value of the acquired vessels by two independent international sale and purchase brokers. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C.
Interest of Experts and Counsel </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_11"></A>Item&nbsp;8.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Financial Information </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">See &#147;Item 18. Financial Statements&#148; below. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Significant Changes.</I> Other than as described in Note 18 &#147;Subsequent Events&#148; to our consolidated financial statements included in this Annual Report, no significant change has occurred
since the date of such consolidated financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">70 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Legal Proceedings.</I> In connection with the proceeding initiated In the High Court of
South Africa, Kawazulu-Natal Local Division, Durban (Case No. A64/2015) entitled In the matter between Super Shipping Ltd. and MT &#147;Spike&#148; and TankPunk Inc., we have classified as current restricted cash $9.8 million that has been placed in
a restricted bank account as of December&nbsp;31, 2015 in relation to a bank guarantee we have furnished Super Shipping Ltd the former charterer of one of our vessels, the <I>MT Spike,</I> to secure the vessel&#146;s release shortly after being
arrested in a South African port in August 2015. The action relates to security sought in connection with an arbitration proceeding involving a vessel not in the Company&#146;s fleet that the applicant claims is under common control with the <I>MT
Spike</I>. We believe that the basis for the charterer&#146;s action is groundless and we are vigorously contesting it in order to have the bank guarantee released. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">To our knowledge we are not currently a party to any material lawsuit that, if adversely determined, would have a material effect on our financial position, results of operations or liquidity. From time
to time in the future we may be subject to legal proceedings and claims in the ordinary course of business, principally personal injury and property casualty claims. Those claims, even if lacking merit, could result in the expenditure of significant
financial and managerial resources. We have not been involved in any legal proceedings which may have, or have had a material effect on our financial position, results of operations or liquidity, nor are we aware of any proceedings that are pending
or threatened which may have a significant effect on our financial position, results of operations or liquidity. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_12"></A>Item&nbsp;9.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>The Offer and Listing </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Trading on the
Nasdaq Stock Market </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Following our initial public offering in the United States in October 2005, our shares of common stock
were quoted on the Nasdaq National Market, and are now listed on the Nasdaq Global Select Market, under the symbol &#147;GASS&#148;. The following table shows the high and low closing prices for our shares of common stock during the indicated
periods. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>High</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Low</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year Ended December&nbsp;31, 2011</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.37</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year Ended December&nbsp;31, 2012</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year Ended December&nbsp;31, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.88</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year Ended December&nbsp;31, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.67</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.37</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year Ended December&nbsp;31, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.02</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.03</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">First Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.67</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.51</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Second Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.90</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Third Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fourth Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.37</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">First Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.84</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Second Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.02</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Third Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fourth Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.03</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">October 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">November 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.79</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">December 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.95</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.03</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">First Quarter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.49</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">February 2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.49</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">March 2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">April 2016 (through April&nbsp;15)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">71 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Comparison of Cumulative Total Shareholder Return </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Set forth below is a graph comparing the cumulative total shareholder return of our common stock between December&nbsp;31, 2010 and
December&nbsp;31, 2015, with the cumulative total return of the Dow Jones Marine Transportation Index and the S&amp;P 500 Index. Total stockholder return represents stock price changes and assumes the reinvestment of dividends. The graph assumes the
investment of $100 on December&nbsp;31, 2010. Past performance is not necessarily an indicator of future results. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g170255g29a08.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_13"></A>Item&nbsp;10.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Additional Information </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>A. Share
Capital </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under our articles of incorporation, our authorized capital stock consists of 5,000,000 shares of preferred stock,
$0.01 par value per share, none of which is issued or outstanding and 100,000,000 shares of common stock, $0.01 par value per share, of which 44,285,108 shares were issued, including 3,767,432 shares repurchased by the Company and held as treasury
stock, and 40,517,676 shares outstanding and fully paid as of December&nbsp;31, 2015; while as of April&nbsp;1, 2016, we had 44,285,108 shares issued, including 4,411,610 shares repurchased by the Company and held as treasury stock, and 39,873,498
shares outstanding and fully paid. All of our shares of stock are in registered form. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Common Stock </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders. Subject to
preferences that may be applicable to any outstanding shares of preferred stock, holders of shares of common stock are entitled to receive ratably all dividends, if any, declared by our Board of Directors out of funds legally available for
dividends. Holders of common stock do not have conversion, redemption or preemptive rights to subscribe to any of our securities. All outstanding shares of common stock are, and the shares to be sold in this offering when issued and paid for will
be, fully paid and non-assessable. The rights, preferences and privileges of holders of common stock are subject to the rights of the holders of any shares of preferred stock which we may issue in the future. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">72 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Blank Check Preferred Stock </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the terms of our articles of incorporation, our Board of Directors has authority, without any further vote or action by our
stockholders, to issue up to 5,000,000 shares of blank check preferred stock. Our Board of Directors could issue shares of preferred stock on terms calculated to discourage, delay or prevent a change of control of our company or the removal of our
management. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Dividends </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have not paid a dividend since March 2009. In the first quarter of 2009, our Board of Directors determined to suspend the payment of cash dividends as a result of weak market conditions in the
international shipping industry and to preserve the Company&#146;s liquid cash resources. As our contracted newbuildings are delivered, paid for and begin to generate revenue, our board of directors will evaluate our dividend policy consistent with
our cash flows and liquidity requirements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Declaration and payment of any dividend is subject to the discretion of our Board
of Directors. The timing and amount of dividend payments will be dependent upon our earnings, financial condition, cash requirements and availability, restrictions in our loan agreements, or other financing arrangements, the provisions of Marshall
Islands law affecting the payment of distributions to stockholders and other factors. Because we are a holding company with no material assets other than the stock of our subsidiaries, our ability to pay dividends will depend on the earnings and
cash flow of our subsidiaries and their ability to pay dividends to us. Marshall Islands law generally prohibits the payment of dividends other than from surplus or while a company is insolvent or would be rendered insolvent upon the payment
thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the terms of our existing credit facilities, we are generally permitted to declare or pay cash dividends in
any twelve month period as long as the amount of the dividends and share repurchases do not exceed 50% of the Company&#146;s free cash flow (as defined in our credit agreements) and provided we are not in default under the other covenants contained
in these credit facilities. See &#147;Item 3. Key Information&#151;Risk Factors&#151;Risks Related To Our Common Stock&#151;Our Board of Directors has suspended the payment of cash dividends as a result of market conditions in the international
shipping industry&#148;. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>B. Articles of Incorporation and Bylaws </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our purpose is to engage in any lawful act or activity for which corporations may now or hereafter be organized under the Marshall Islands
Business Corporations Act, or BCA. Our articles of incorporation and bylaws do not impose any limitations on the ownership rights of our stockholders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under our bylaws, annual stockholder meetings will be held at a time and place selected by our Board of Directors. The meetings may be held in or outside of the Marshall Islands. Special meetings may be
called by the Board of Directors. Our Board of Directors may set a record date between 15 and 60 days before the date of any meeting to determine the stockholders that will be eligible to receive notice and vote at the meeting. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Directors.</I> Our directors are elected by a plurality of the votes cast at a meeting of the stockholders by the holders of shares
entitled to vote in the election. There is no provision for cumulative voting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Board of Directors may change the number
of directors by a vote of a majority of the entire board. Each director shall be elected to serve until his successor shall have been duly elected and qualified, except in the event of his death, resignation, removal, or the earlier termination of
his term of office. The Board of Directors has the authority to fix the amounts which shall be payable to the members of our Board of Directors for attendance at any meeting or for services rendered to us. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Dissenters&#146; Rights of Appraisal and Payment.</I> Under the BCA, our stockholders have the right to dissent from various corporate
actions, including any merger or sale of all or substantially all of our assets not made in </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">73 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
the usual course of our business, and receive payment of the fair value of their shares. However, the right of a dissenting stockholder under the BCA to receive payment of the fair value of his
shares is not available for the shares of any class or series of stock, which shares or depository receipts in respect thereof, at the record date fixed to determine the stockholders entitled to receive notice of and to vote at the meeting of the
stockholders to act upon the agreement of merger or consolidation, were either (i)&nbsp;listed on a securities exchange or admitted for trading on an interdealer quotation system or (ii)&nbsp;held of record by more than 2,000 holders. The right of a
dissenting stockholder to receive payment of the fair value of his or her shares shall not be available for any shares of stock of the constituent corporation surviving a merger if the merger did not require for its approval the vote of the
stockholders of the surviving corporation. In the event of any further amendment of our articles of incorporation, a stockholder also has the right to dissent and receive payment for his or her shares if the amendment alters certain rights in
respect of those shares. The dissenting stockholder must follow the procedures set forth in the BCA to receive payment. In the event that we and any dissenting stockholder fail to agree on a price for the shares, the BCA procedures involve, among
other things, the institution of proceedings in the circuit court in the judicial circuit in the Marshall Islands in which our Marshall Islands office is situated. The value of the shares of the dissenting stockholder is fixed by the court after
reference, if the court so elects, to the recommendations of a court-appointed appraiser. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Stockholders&#146; Derivative
Actions.</I> Under the BCA, any of our stockholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the stockholder bringing the action is a holder of common stock both at the time
the derivative action is commenced and at the time of the transaction to which the action relates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Anti-takeover
Provisions of our Charter Documents.</I> Several provisions of our articles of incorporation and bylaws may have anti-takeover effects. These provisions are intended to avoid costly takeover battles, lessen our vulnerability to a hostile change of
control and enhance the ability of our Board of Directors to maximize stockholder value in connection with any unsolicited offer to acquire us. However, these anti-takeover provisions, which are summarized below, could also discourage, delay or
prevent (1)&nbsp;the merger or acquisition of our company by means of a tender offer, a proxy contest or otherwise, that a stockholder may consider in its best interest and (2)&nbsp;the removal of incumbent officers and directors. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Blank Check Preferred Stock.</I> Under the terms of our articles of incorporation, our Board of Directors has authority, without any
further vote or action by our stockholders, to issue up to 5,000,000 shares of blank check preferred stock. Our Board of Directors may issue shares of preferred stock on terms calculated to discourage, delay or prevent a change of control of our
company or the removal of our management. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Classified Board of Directors.</I> Our articles of incorporation provide for a
Board of Directors serving staggered, three-year terms. Approximately one-third of our Board of Directors will be elected each year. This classified board provision could discourage a third party from making a tender offer for our shares or
attempting to obtain control of our company. It could also delay stockholders who do not agree with the policies of the Board of Directors from removing a majority of the Board of Directors for two years. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Election and Removal of Directors.</I> Our articles of incorporation and bylaws prohibit cumulative voting in the election of
directors. Our bylaws require parties other than the Board of Directors to give advance written notice of nominations for the election of directors. Our bylaws also provide that our directors may be removed only for cause and only upon the
affirmative vote of the holders of at least 80% of the outstanding shares of our capital stock entitled to vote for those directors. These provisions may discourage, delay or prevent the removal of incumbent officers and directors. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Calling of Special Meetings of Stockholders.</I> Our bylaws provide that special meetings of our stockholders may be called only by
resolution of our Board of Directors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Advance Notice Requirements for Stockholder Proposals and Director Nominations.</I>
Our bylaws provide that stockholders seeking to nominate candidates for election as directors or to bring business before an annual meeting of stockholders must provide timely notice of their proposal in writing to the corporate secretary.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">74 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Generally, to be timely, a stockholder&#146;s notice must be received at our principal
executive offices not less than 90 days or more than 120 days prior to the first anniversary date of the previous year&#146;s annual meeting. If, however, the date of our annual meeting is more than 30 days before or 60 days after the first
anniversary date of the previous year&#146;s annual meeting, a stockholder&#146;s notice must be received at our principal executive offices by the later of (i)&nbsp;the close of business on the 90th day prior to the annual meeting date or
(ii)&nbsp;the close of business on the tenth day following the date on which such annual meeting date is first publicly announced or disclosed by us. Our bylaws also specify requirements as to the form and content of a stockholder&#146;s notice.
These provisions may impede stockholders&#146; ability to bring matters before an annual meeting of stockholders or make nominations for directors at an annual meeting of stockholders. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Business Combinations.</I> Our articles of incorporation prohibit us from engaging in a &#147;business combination&#148; with certain
persons for three years following the date the person becomes an interested stockholder. Interested stockholders generally include: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">persons who are the beneficial owners of 15% or more of the outstanding voting stock of the corporation; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">persons who are affiliates or associates of the corporation and who hold 15% or more of the corporation&#146;s outstanding voting stock at any time
within three years before the date on which the person&#146;s status as an interested stockholder is determined. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Subject to certain exceptions, a business combination includes, among other things: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">certain mergers or consolidations of the corporation or any direct or indirect majority-owned subsidiary of the company; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the sale, lease, exchange, mortgage, pledge, transfer or other disposition of assets having an aggregate market value equal to 10% or more of either
the aggregate market value of all assets of the corporation, determined on a consolidated basis, or the aggregate value of all the outstanding stock of the corporation; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">certain transactions that result in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series, or securities
convertible into the stock of any class or series, of the corporation that is owned directly or indirectly by the interested stockholder; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">any receipt by the interested stockholder of the benefit (except as a stockholder) of any loans, advances, guarantees, pledges or other financial
benefits provided by or through the corporation. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">These provisions of our articles of incorporation do not
apply to a business combination if: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">before a person becomes an interested stockholder, the board of directors of the corporation approves the business combination or transaction in which
the stockholder became an interested stockholder; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">upon consummation of the transaction that resulted in the interested stockholder becoming an interested stockholder, the interested stockholder owned
at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, other than certain excluded shares; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">following a transaction in which the person became an interested stockholder, the business combination is (a)&nbsp;approved by the board of directors
of the corporation and (b)&nbsp;authorized at a regular or special meeting of stockholders, and not by written consent, by the vote of the holders of at least two-thirds of the voting stock of the corporation not owned by the stockholder; or
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a transaction with a stockholder that was or became an interested stockholder prior to the consummation of our initial public offering.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">75 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Stockholder Rights Plan </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The rights issued pursuant to a rights agreement, dated as of December&nbsp;23, 2014, between us and American Stock Transfer&nbsp;&amp;
Trust Company, LLC, as rights agent, expired on December&nbsp;22, 2015. Accordingly, our shares of common stock no longer include a right entitling the holder to purchase from us a unit consisting of one-thousandth of a share of our Series A
participating preferred stock. The adoption of the rights agreement was approved by our Board of Directors on December&nbsp;23, 2014. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C.
Material Contracts </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We refer to &#147;Item 5. Operating and Financial Review and Prospects&#151;B. Liquidity and Capital
Resources&#148; and &#147;Item 7. Major Shareholders and Related Party Transactions&#151;B. Related Party Transactions&#148; for a discussion of our material agreements that we have been a party to outside the ordinary course of our business during
the two-year period immediately preceding the date of this annual report. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other than the agreements discussed in the
aforementioned sections of this annual report, we have no material contracts, other than contracts entered into in the ordinary course of business, to which we or any member of the group is a party. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>D. Exchange Controls and Other Limitations Affecting Stockholders </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under Marshall Islands law, there are currently no restrictions on the export or import of capital, including foreign exchange controls or restrictions that affect the remittance of dividends, interest or
other payments to non-resident holders of our common stock. On July&nbsp;22, 2015, Greece implemented capital controls restricting the transfer of funds out of Greece, which restricted our use of the limited amount of cash we held in Greece at that
date for remittances outside of Greece. Cash deposited in Greek banks after that date is not restricted for remittances outside Greece. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We are not aware of any limitations on the rights to own our common stock, including rights of non-resident or foreign stockholders to hold or exercise voting rights on our common stock, imposed by
foreign law or by our articles of incorporation or bylaws. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>E. Tax Considerations </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Marshall Islands Tax Consequences </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We are incorporated in the Marshall Islands. Because we and our subsidiaries do not, and we do not expect that we and our subsidiaries will, conduct business or operations in the Republic of The Marshall
Islands, under current Marshall Islands law we are not subject to tax on income or capital gains and no Marshall Islands withholding tax will be imposed upon payments of dividends by us to our stockholders so long as such stockholders do not reside
in, maintain offices in, or engage in business in the Republic of The Marshall Islands. In addition, holders of shares of our common stock will not be subject to Marshall Islands stamp, capital gains or other taxes on the purchase, ownership or
disposition of shares of our common stock and will not be required by the Republic of The Marshall Islands to file a tax return relating to such common stock. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>United States Federal Income Tax Consequences </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Except as otherwise
noted, this discussion is based on the assumption that we will not maintain an office or other fixed place of business within the United States. We have no current intention of maintaining such an office. References in this discussion to
&#147;we&#148; and &#147;us&#148; are to StealthGas Inc. and its subsidiaries on a consolidated basis, unless the context otherwise requires. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">76 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>United States Federal Income Taxation of Our Company </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Taxation of Operating Income: In General </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Unless exempt from United States federal income taxation under the rules discussed below, a foreign corporation is subject to United States federal income taxation in respect of any income that is derived
from the use of vessels, from the hiring or leasing of vessels for use on a time, voyage or bareboat charter basis, from the participation in a pool, partnership, strategic alliance, joint operating agreement or other joint venture it directly or
indirectly owns or participates in that generates such income, or from the performance of services directly related to those uses, which we refer to as &#147;shipping income,&#148; to the extent that the shipping income is derived from sources
within the United States. For these purposes, 50% of shipping income that is attributable to transportation that begins or ends, but that does not both begin and end, in the United States constitutes income from sources within the United States,
which we refer to as &#147;United States-source shipping income.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shipping income attributable to transportation that
both begins and ends in the United States is generally considered to be 100% from sources within the United States. We do not expect to engage in transportation that produces income which is considered to be 100% from sources within the United
States. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shipping income attributable to transportation exclusively between non-United States ports is generally considered to
be 100% derived from sources outside the United States. Shipping income derived from sources outside the United States will not be subject to any United States federal income tax. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the absence of exemption from tax under Section&nbsp;883, our gross United States-source shipping income, unless determined to be
effectively connected with the conduct of a United States trade or business, as described below, would be subject to a 4% tax imposed without allowance for deductions as described below. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Exemption of Operating Income from United States Federal Income Taxation </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Section&nbsp;883 of the Code, an entity, such as us and our vessel-owning subsidiaries, that is treated for United States federal
income tax purposes as a non-United States on-United States corporation will be exempt from United States federal income taxation on its United States-source shipping income if: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the entity is organized in a country other than the United States (an &#147;equivalent exemption jurisdiction&#148;) that grants an
exemption to corporations organized in the United States that is equivalent to that provided for in Section&nbsp;883 of the Code (an &#147;equivalent exemption&#148;); and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) either (A)&nbsp;for more than half of the days in the relevant tax year more than 50% of the value of the entity&#146;s stock is owned, directly or under applicable constructive ownership rules, by
individuals who are residents of equivalent exemption jurisdictions or certain other qualified shareholders (the &#147;50% Ownership Test&#148;) and certain ownership certification requirements are complied with or (B)&nbsp;for the relevant tax year
the entity&#146;s stock is &#147;primarily and regularly traded on an established securities market&#148; in an equivalent exemption jurisdiction or the United States (the &#147;Publicly-Traded Test&#148;). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We believe, based on Revenue Ruling 2008-17, 2008-12 IRB 626, and the exchanges of notes referred to therein, that each of Malta, the
Marshall Islands, Liberia and Cyprus the jurisdictions in which we and our vessel-owning subsidiaries are organized, is an equivalent exemption jurisdiction with respect to income from bareboat and time or voyage charters. Under the rules described
in the preceding paragraph, our wholly-owned vessel-owning subsidiaries that are directly or indirectly wholly-owned by us throughout a taxable year will be entitled to the benefits of Section&nbsp;883 for such taxable year if we satisfy the 50%
Ownership Test or the Publicly-Traded Test for such year. Due to the widely-held ownership of our stock, it may be difficult for us to satisfy the 50% Ownership Test. Our ability to satisfy the Publicly-Traded Test is discussed below. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Section&nbsp;883 regulations provide, in pertinent part, that stock of a foreign corporation will be considered to be &#147;primarily
traded&#148; on an established securities market in a particular country if the number of shares of </FONT></P>
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each class of stock that are traded during any taxable year on all established securities markets in that country exceeds the number of shares in each such class that are traded during that year
on established securities markets in any other single country. Our common stock, which is the sole class of our issued and outstanding stock is &#147;primarily traded&#148; on the Nasdaq Global Select Market. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the regulations, our common stock will be considered to be &#147;regularly traded&#148; on an established securities market if one
or more classes of our stock representing more than 50% of our outstanding shares, by total combined voting power of all classes of stock entitled to vote and total value, is listed on the market. We refer to this as the listing threshold. Since our
common stock is the sole class of stock listed on the Nasdaq Global Select Market, we will satisfy the listing requirement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">It is further required that with respect to each class of stock relied upon to meet the listing threshold (i)&nbsp;such class of the
stock is traded on the market, other than in minimal quantities, on at least 60 days during the taxable year or 1/6 of the days in a short taxable year; and (ii)&nbsp;the aggregate number of shares of such class of stock traded on such market is at
least 10% of the average number of shares of such class of stock outstanding during such year or as appropriately adjusted in the case of a short taxable year. We believe we will satisfy the trading frequency and trading volume tests. Even if this
were not the case, the regulations provide that the trading frequency and trading volume tests will be deemed satisfied if, as we believe to be the case with our common stock, such class of stock is traded on an established market in the United
States and such stock is regularly quoted by dealers making a market in such stock. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding the foregoing, the
regulations provide, in pertinent part, that a class of our stock will not be considered to be &#147;regularly traded&#148; on an established securities market for any taxable year in which 50% or more of such class of our outstanding shares of the
stock is owned, actually or constructively under specified stock attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the value of such class of our outstanding stock, which we refer to as the
&#147;5% Override Rule.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of being able to determine the persons who own 5% or more of our stock, or
&#147;5% Stockholders,&#148; the regulations permit us to rely on those persons that are identified on Schedule 13G and Schedule 13D filings with the United States Securities and Exchange Commission, or the &#147;SEC,&#148; as having a 5% or more
beneficial interest in our common stock. The regulations further provide that an investment company which is registered under the Investment Company Act of 1940, as amended, will not be treated as a 5% Stockholder for such purposes. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our shares of common stock are currently and may in the future also be, owned, actually or under applicable attribution rules, such that
5% Stockholders own, in the aggregate, 50% or more of our common stock. In such circumstances, we will be subject to the 5% Override Rule unless we can establish that among the shares included in the closely-held block of our shares of common stock
are a sufficient number of shares of common stock that are owned or treated as owned by &#147;qualified share-holders&#148; that the shares of common stock included in such block that are not so treated could not constitute 50% or more of the shares
of our common stock for more than half the number of days during the taxable year. In order to establish this, such qualified share-holders would have to comply with certain documentation and certification requirements designed to substantiate their
identity as qualified share-holders. For these purposes, a &#147;qualified share-holder&#148; includes (i)&nbsp;an individual that owns or is treated as owning shares of our common stock and is a resident of a jurisdiction that provides an exemption
that is equivalent to that provided by Section&nbsp;883 of the Code and (ii)&nbsp;certain other persons. There can be no assurance that we will not be subject to the 5% Override Rule. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Chief Executive Officer, who is treated under applicable ownership attribution rules as owning approximately 11.1% of our shares of
common stock as of April&nbsp;1, 2016, has entered into an agreement with us regarding his compliance, and the compliance by certain entities that he controls and through which he owns our shares, with the certification requirements designed to
substantiate status as qualified stockholders. In certain circumstances, his compliance and the compliance of such entities he controls with the terms of that agreement </FONT></P>
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may enable us and our subsidiaries to qualify for the benefits of Section&nbsp;883 even where persons each of whom owns, either directly or under applicable attribution rules, 5% or more of our
shares own, in the aggregate, more than 50% of our outstanding shares. There can be no assurance, however, that his compliance and the compliance of such entities he controls with the terms of that agreement will enable us or our subsidiaries to
qualify for the benefits of Section&nbsp;883. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We do not believe that we or our subsidiaries derived a material amount of
United States-source shipping income in 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">There can be no assurance that we or any of our subsidiaries will qualify for
the benefits of Section&nbsp;883 for any year. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">To the extent the benefits of Section&nbsp;883 are unavailable, our United
States-source shipping income and that at our subsidiaries, to the extent not considered to be &#147;effectively connected&#148; with the conduct of a United States trade or business, as described below, would be subject to a 4% tax imposed by
Section&nbsp;887 of the Code on a gross basis, without the benefit of deductions. Since under the sourcing rules described above, we expect that no more than 50% of our shipping income and that of our subsidiaries would be treated as being derived
from United States-sources, we expect that the maximum effective rate of United States federal income tax on such gross shipping income would never exceed 2% under the 4% gross basis tax regime. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">To the extent the benefits of the Section&nbsp;883 exemption are unavailable and our United States-source shipping income or that of our
subsidiaries is considered to be &#147;effectively connected&#148; with the conduct of a United States trade or business, as described below, any such &#147;effectively connected&#148; United States-source shipping income, net of applicable
deductions, would be subject to the United States federal corporate income tax currently imposed at rates of up to 35%. In addition, we or our subsidiaries may be subject to the 30% &#147;branch profits&#148; taxes on earnings effectively connected
with the conduct of such trade or business, as determined after allowance for certain adjustments, and on certain interest paid or deemed paid attributable to the conduct of a United States trade or business by us or our subsidiaries. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our United States-source shipping income and that of our subsidiaries, other than leasing income, will be considered &#147;effectively
connected&#148; with the conduct of a United States trade or business only if: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">we or our subsidiaries have, or are considered to have, a fixed place of business in the United States involved in the earning of shipping income; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">substantially all (at least 90%) of our United States-source shipping income, other than leasing income or that of a subsidiary, is attributable to
regularly scheduled transportation, such as the operation of a vessel that follows a published schedule with repeated sailings at regular intervals between the same points for voyages that begin or end in the United States.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We do not intend to have, or permit circumstances that would result in having, any vessel operating to the
United States on a regularly scheduled basis. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our United States-source shipping income from leasing or that of our
subsidiaries will be considered &#147;effectively connected&#148; with the conduct of a United States trade or business only if: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">we or our subsidiaries have, or are considered to have, a fixed place of business in the United States that is involved in the meaning of such leasing
income; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">substantially all (at least 90%) of our United States-source shipping income from leasing or that of a subsidiary is attributable to such fixed place
of business. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For these purposes, leasing income is treated as attributable to a fixed place of business
where such place of business is a material factor in the realization of such income and such income is realized in the ordinary course </FONT></P>
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of business carried on through such fixed place of business. Based on the foregoing and on the expected mode of our shipping operations and other activities, we believe that none of our United
States-source shipping income or that of our subsidiaries is &#147;effectively connected&#148; with the conduct of a United States trade or business. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>United States Taxation of Gain on Sale of Vessels </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Regardless of whether we
qualify for exemption under Section&nbsp;883, we will not be subject to United States federal income taxation with respect to gain realized on a sale of a vessel, provided the sale is considered to occur outside of the United States under United
States federal income tax principles. In general, a sale of a vessel will be considered to occur outside of the United States for this purpose if title to the vessel, and risk of loss with respect to the vessel, pass to the buyer outside of the
United States. It is expected that any sale of a vessel will be so structured that it will be considered to occur outside of the United States. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>United States Federal Income Taxation of United States Holders </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">As used herein, the term &#147;United States Holder&#148; means a beneficial owner of common stock that is a United States citizen or resident, United States corporation or other United States entity
taxable as a corporation, an estate the income of which is subject to United States federal income taxation regardless of its source, or a trust if a court within the United States is able to exercise primary jurisdiction over the administration of
the trust and one or more United States persons have the authority to control all substantial decisions of the trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This
discussion applies only to beneficial owners of common stock that own the common stock as &#147;capital assets&#148; (generally, for investment purposes) and does not comment on all aspects of U.S. federal income taxation that may be important to
certain shareholders in light of their particular circumstances, such as shareholders subject to special tax rules (e.g., financial institutions, regulated investment companies, real estate investment trusts, insurance companies, traders in
securities that have elected the mark-to-market method of accounting for their securities, persons liable for alternative minimum tax, broker-dealers, tax-exempt organizations, partnerships or other pass-through entities and their investors or
former citizens or long-term residents of the United States) or shareholders that will hold common stock as part of a straddle, hedge, conversion, constructive sale or other integrated transaction for U.S. federal income tax purposes, all of whom
may be subject to U.S. federal income tax rules that differ significantly from those summarized below. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a partnership (or
an entity treated as a partnership for United States federal income tax purposes) holds our common stock, the tax treatment of a partner will generally depend upon the status of the partner and upon the activities of the partnership. If you are a
partner in a partnership holding our common stock, you are encouraged to consult your tax advisor. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Distributions
</I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Subject to the discussion of passive foreign investment companies below, any distributions made by us with respect to our
common stock to a United States Holder will generally constitute dividends, which may be taxable as ordinary income or &#147;qualified dividend income&#148; as described in more detail below, to the extent of our current or accumulated earnings and
profits, as determined under United States federal income tax principles. Distributions in excess of our earnings and profits will be treated first as a nontaxable return of capital to the extent of the United States Holder&#146;s tax basis in his
common stock on a dollar for dollar basis and thereafter as capital gain. Because we are not a United States corporation, United States Holders that are corporations will not be entitled to claim a dividends received deduction with respect to any
distributions they receive from us. Dividends paid with respect to our common stock will generally be treated as passive category income or, in the case of certain types of United States Holders, general category income for purposes of computing
allowable foreign tax credits for United States foreign tax credit purposes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dividends paid on our common stock to a United
States Holder who is an individual, trust or estate (a &#147;United States Individual Holder&#148;) should be treated as &#147;qualified dividend income&#148; that is taxable to such </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">80 </FONT></P>



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United States Individual Holders at preferential tax rates provided that (1)&nbsp;the common stock is readily tradable on an established securities market in the United States (such as the Nasdaq
Global Select Market); (2)&nbsp;we are not a passive foreign investment company, or PFIC, for the taxable year during which the dividend is paid or the immediately preceding taxable year see the discussion under the heading &#147;PFIC Status and
Significant Tax Consequences&#148; below for a discussion of our potential qualification as a PFIC; and (3)&nbsp;the United States Individual Holder owns the common stock (and has not been protected from risk of loss) for more than 60 days in the
121-day period beginning 60 days before the date on which the common stock becomes ex-dividend. Special rules may apply to any &#147;extraordinary dividend&#148;. Generally, an extraordinary dividend is a dividend in an amount which is equal to or
in excess of ten percent of a stockholder&#146;s adjusted basis (or fair market value in certain circumstances) in a share of common stock paid by us. If we pay an &#147;extraordinary dividend&#148; on our common stock that is treated as
&#147;qualified dividend income,&#148; then any loss derived by a United States Individual Holder from the sale or exchange of such common stock will be treated as long-term capital loss to the extent of such dividend. There is no assurance that any
dividends paid on our common stock will be eligible for these preferential rates in the hands of a United States Individual Holder. Any dividends paid by us which are not eligible for these preferential rates will be taxed to a United States
Individual Holder at the standard ordinary income rates. Legislation has been proposed which, if enacted into law in its present form, would likely preclude, prospectively from the date of enactment, our dividends from being treated as
&#147;qualified dividend income&#148; eligible for the preferential tax rates described above. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Sale, Exchange or other
Disposition of Common Stock </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Assuming we do not constitute a PFIC for any taxable year, a United States Holder generally
will recognize taxable gain or loss upon a sale, exchange or other disposition of our common stock in an amount equal to the difference between the amount realized by the United States Holder from such sale, exchange or other disposition and the
United States Holder&#146;s tax basis in such stock. Such gain or loss will be treated as long-term capital gain or loss if the United States Holder&#146;s holding period is greater than one year at the time of the sale, exchange or other
disposition. Such capital gain or loss will generally be treated as United States-source income or loss, as applicable, for United States foreign tax credit purposes. A United States Holder&#146;s ability to deduct capital losses is subject to
certain limitations. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>PFIC Status and Significant Tax Consequences </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Special United States federal income tax rules apply to a United States Holder that holds stock in a foreign corporation classified as a
PFIC for United States federal income tax purposes. In general, we will be treated as a PFIC with respect to a United States Holder if, for any taxable year in which such holder held our common stock, either: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">at least 75% of our gross income for such taxable year consists of passive income (e.g., dividends, interest, capital gains and rents derived other
than in the active conduct of a rental business); or </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">at least 50% of the average value of our assets during such taxable year produce, or are held for the production of, passive income.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of determining whether we are a PFIC, we will be treated as earning and owning our
proportionate share of the income and assets, respectively, of any of our subsidiary corporations in which we own at least 25 percent of the value of the subsidiary&#146;s stock. Income earned, or deemed earned, by us in connection with the
performance of services will not constitute passive income. By contrast, rental income will generally constitute &#147;passive income&#148; unless we are treated under specific rules as deriving our rental income in the active conduct of a trade or
business. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We may hold, directly or indirectly, interests in other entities that are PFICs (&#147;Subsidiary PFICs&#148;). If
we are a PFIC, each United States Holder will be treated as owning its pro rata share by value of the stock of any such Subsidiary PFICs. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">81 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In connection with determining our PFIC status we treat and intend to continue to treat the
gross income that we derive or are deemed to derive from our time chartering activities as services income, rather than rental income. We believe that our income from time chartering activities does not constitute &#147;passive income&#148; and that
the assets that we own and operate in connection with the production of that income do not constitute assets held for the production of passive income. We treat and intend to continue to treat, for purposes of the PFIC rules, the income that we
derive from bareboat charters as passive income and the assets giving rise to such income as assets held for the production of passive income. We believe there is substantial authority supporting our position consisting of case law and IRS
pronouncements concerning the characterization of income derived from time charters and voyage charters as services income for other tax purposes. There is, however, no legal authority specifically under the PFIC rules regarding our current and
proposed method of operation and it is possible that the Internal Revenue Service, or IRS, may not accept our positions and that a court may uphold such challenge, in which case we and certain of our subsidiaries could be treated as PFICs. In this
regard we note that a recent federal court decision, <I>Tidewater Inc. and Subsidiaries v. United States</I>, 565 F.3d 299 (5th Cir. 2009), held that income derived from certain time chartering activities should be treated as rental income rather
than services income for purposes of the &#147;foreign sales corporation&#148; rules under the Code. The IRS has stated that it disagrees with and will not acquiesce to the <I>Tidewater</I> decision, and in its discussion stated that the time
charters at issue in Tidewater would be treated as producing services income for PFIC purposes. However, the IRS&#146;s statement with respect to the <I>Tidewater</I> decision was an administrative action that cannot be relied upon or otherwise
cited as precedent by taxpayers. Consequently, in the absence of any binding legal authority specifically relating to the statutory provisions governing PFICs, there can be no assurance that the IRS or a court would agree with the <I>Tidewater</I>
decision. In addition, in making the determination as to whether we are a PFIC, we intend to treat the deposits that we make on our newbuilding contracts and that are with respect to vessels we do not expect to bareboat charter as assets which are
not held for the production of passive income for purposes of determining whether we are a PFIC. We note that there is no direct authority on this point and it is possible that the IRS may disagree with our position. However, if the principles of
the Tidewater decision were applicable to our time charters, or our new build deposits were treated as assets producing passive income, we would likely be treated as a PFIC. Moreover, although we intend to conduct our affairs in a manner to avoid
being classified as a PFIC, we cannot assure you that the nature of our assets, income and operations will not change, or that we can avoid being treated as a PFIC for any taxable year. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We do not believe that we were a PFIC for 2015. This belief is based in part upon our beliefs regarding the value of the assets that we
hold for the production of or in connection with the production of passive income relative to the value of our other assets. Should these beliefs turn out to be incorrect, then we and certain of our subsidiaries could be treated as PFICs for 2015.
In this regard we note that our beliefs and expectations regarding the relative values of our assets place us close to the threshold for PFIC status, and thus a relatively small deviance between our beliefs and expectations and actual values could
result in the treatment of us and certain of our subsidiaries as PFICs. There can be no assurance that the IRS or a court will not determine values for our assets that would cause us to be treated as a PFIC for 2015 or a subsequent year. In
addition, although we do not believe that we were a PFIC for 2015, we may choose to operate our business in the current or in future taxable years in a manner that could cause us to become a PFIC for those years. Because our status as a PFIC for any
taxable year will not be determinable until after the end of the taxable year, and depends upon our assets, income and operations in that taxable year, there can be no assurance that we will not be considered a PFIC for 2016 or any future taxable
year. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As discussed more fully below, if we were to be treated as a PFIC for any taxable year, a United States Holder would be
subject to different taxation rules depending on whether the United States Holder makes an election to treat us as a &#147;Qualified Electing Fund,&#148; which election we refer to as a &#147;QEF election.&#148; As an alternative to making a QEF
election, a United States Holder should be able to make a &#147;mark-to-market&#148; election with respect to our common stock, as discussed below. Regardless of whether a United States Holder makes a QEF election or a mark-to-market election, if we
were to be treated as a PFIC for any taxable year ending on or after December&nbsp;31, 2015, the United States Holder generally would be required to file an IRS Form 8621 reporting his ownership of shares in a PFIC. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Taxation of United States Holders Making a Timely QEF Election </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a United States Holder makes a timely QEF election, which United States Holder we refer to as an &#147;Electing Holder,&#148; the
Electing Holder must report each year for United States federal income tax purposes his pro-rata share of our ordinary earnings and our net capital gain, if any, for our taxable year that ends with or within the taxable year of the Electing Holder,
regardless of whether or not distributions were received from us by the Electing Holder. Generally, a QEF election should be made on or before the due date for filing the electing United States Holder&#146;s U.S. federal income tax return for the
first taxable year in which our common stock is held by such United States Holder and we are classified as a PFIC. The Electing Holder&#146;s adjusted tax basis in the common stock will be increased to reflect taxed but undistributed earnings and
profits. Distributions of earnings and profits that had been previously taxed will result in a corresponding reduction in the adjusted tax basis in the common stock and will not be taxed again once distributed. An Electing Holder would generally
recognize capital gain or loss on the sale, exchange or other disposition of our common stock. A United States Holder would make a QEF election with respect to any year that our company and any PFIC Subsidiary is a PFIC by filing one copy of IRS
Form 8621 with his United States federal income tax return and a second copy in accordance with the instructions to such form. If we were aware that we were to be treated as a PFIC for any taxable year, we would provide each United States Holder
with all necessary information in order to make the QEF election described above with respect to our common stock and the stock of any Subsidiary PFIC. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Taxation of United States Holders Making a &#147;Mark-to-Market&#148; Election </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Alternatively, if we were to be treated as a PFIC for any taxable year and, as we anticipate, our common stock is treated as &#147;marketable stock,&#148; a United States Holder would be allowed to make a
&#147;mark-to-market&#148; election with respect to our common stock, provided the United States Holder completes and files IRS Form 8621 in accordance with the relevant instructions and related Treasury Regulations. If that election is made, the
United States Holder generally would include as ordinary income in each taxable year the excess, if any, of the fair market value of the common stock at the end of the taxable year over such holder&#146;s adjusted tax basis in the common stock. The
United States Holder would also be permitted an ordinary loss in respect of the excess, if any, of the United States Holder&#146;s adjusted tax basis in the common stock over its fair market value at the end of the taxable year, but only to the
extent of the net amount previously included in income as a result of the mark-to-market election. A United States Holder&#146;s tax basis in his common stock would be adjusted to reflect any such income or loss amount. Gain realized on the sale,
exchange or other disposition of our common stock would be treated as ordinary income, and any loss realized on the sale, exchange or other disposition of the common stock would be treated as ordinary loss to the extent that such loss does not
exceed the net mark-to-market gains previously included by the United States Holder. A mark-to-market election under the PFIC rules with respect to our common stock would not apply to a Subsidiary PFIC, and a United States Holder would not be able
to make such a mark-to-market election in respect of its indirect ownership interest in that Subsidiary PFIC. Consequently, United States Holders of our common stock could be subject to the PFIC rules with respect to income of the Subsidiary PFIC,
the value of which already had been taken into account indirectly via mark-to-market adjustments. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Taxation of United
States Holders Not Making a Timely QEF or Mark-to-Market Election </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If we were to be treated as a PFIC for any taxable year,
a United States Holder who does not make either a QEF election or a &#147;mark-to-market&#148; election for that year, whom we refer to as a &#147;Non-Electing Holder,&#148; would be subject to special rules with respect to (1)&nbsp;any excess
distribution (i.e., the portion of any distributions received by the Non-Electing Holder on our common stock in a taxable year in excess of 125 percent of the average annual distributions received by the Non-Electing Holder in the three preceding
taxable years, or, if shorter, the Non-Electing Holder&#146;s holding period for the common stock), and (2)&nbsp;any gain realized on the sale, exchange or other disposition of our common stock. Under these special rules: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the excess distribution or gain would be allocated ratably over the Non-Electing Holder&#146;s aggregate holding period for the common stock;
</FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the amount allocated to the current taxable year or to any portion of the United States Holder&#146;s holding period prior to the first taxable year
for which we were a PFIC would be taxed as ordinary income; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the amount allocated to each of the other taxable years would be subject to tax at the highest rate of tax in effect for the applicable class of
taxpayer for that year, and an interest charge for the deemed deferral benefit would be imposed with respect to the resulting tax attributable to each such other taxable year. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">These penalties would not apply to a pension or profit sharing trust or other tax-exempt organization that did not borrow funds or
otherwise utilize leverage in connection with its acquisition of our common stock. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Other PFIC Elections. </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a United States Holder held our stock during a period when we were treated as a PFIC but the United States Holder did not have a QEF
election in effect with respect to us, then in the event that we were not treated as a PFIC for a subsequent taxable year, the United States Holder could elect to cease to be subject to the rules described above with respect to those shares by
making a &#147;deemed sale&#148; or, in certain circumstances, a &#147;deemed dividend&#148; election with respect to our stock. If the United States Holder makes a deemed sale election, the United States Holder will be treated, for purposes of
applying the rules described above under the heading &#147;Taxation of United States Holders Not Making a Timely QEF or Mark-to-Market Election&#148;, as having disposed of our stock for its fair market value on the last day of the last taxable year
for which we qualified as a PFIC (the &#147;termination date&#148;). The United States Holder would increase his, her or its basis in such common stock by the amount of the gain on the deemed sale described in the preceding sentence. Following a
deemed sale election, the United States Holder would not be treated, for purposes of the PFIC rules, as having owned the common stock during a period prior to the termination date when we qualified as a PFIC. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If we were treated as a &#147;controlled foreign corporation&#148; for United States federal income tax purposes for the taxable year
that included the termination date, then a United States Holder could make a &#147;deemed dividend&#148; election with respect to our common stock. If a deemed dividend election is made, the United States Holder is required to include in income as a
dividend his, her or its pro rata share (based on all of our stock held by the United States Holder, directly or under applicable attribution rules, on the termination date) of our post-1986 earnings and profits as of the close of the taxable year
that includes the termination date (taking only earnings and profits accumulated in taxable years in which we were a PFIC into account). The deemed dividend described in the preceding sentence is treated as an excess distribution for purposes of the
rules described above under the heading &#147;Taxation of United States Holders Not making a Timely QEF or Mark-to-Market Election&#148;. The United States Holder would increase his, her or its basis in our stock by the amount of the deemed
dividend. Following a deemed dividend election, the United States Holder would not be treated, for purposes of the PFIC rules, as having owned the stock during a period prior to the termination date when we qualified as a PFIC. For purposes of
determining whether the deemed dividend election is available, we generally will be treated as a controlled foreign corporation for a taxable year when, at any time during that year, United States persons, each of whom owns, directly or under
applicable attribution rules, shares having 10% or more of the total voting power of our stock, in the aggregate own, directly or under applicable attribution rules, shares representing more than 50% of the voting power or value of our stock.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A deemed sale or deemed dividend election must be made on the United States Holder&#146;s original or amended return for the
shareholder&#146;s taxable year that includes the termination date and, if made on an amended return, such amended return must be filed not later than the date that is three years after the due date of the original return for such taxable year.
Special rules apply where a person is treated, for purposes of the PFIC rules, as indirectly owning our common stock. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>United States
Federal Income Taxation of &#147;Non-United States Holders&#148; </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A beneficial owner of common stock that is not a United
States Holder and is not treated as a partnership for United States federal income tax purposes is referred to herein as a &#147;Non-United States Holder.&#148; </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Dividends on Common Stock </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non-United States Holders generally will not be subject to United States federal income tax or withholding tax on dividends received from
us with respect to our common stock, unless that income is effectively connected with the Non-United States Holder&#146;s conduct of a trade or business in the United States. If the Non-United States Holder is entitled to the benefits of a United
States income tax treaty with respect to those dividends, that income generally is taxable only if it is attributable to a permanent establishment maintained by the Non-United States Holder in the United States. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Sale, Exchange or Other Disposition of Common Stock </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Non-United States Holders generally will not be subject to United States federal income tax or withholding tax on any gain realized upon the sale, exchange or other disposition of our common stock,
unless: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the gain is effectively connected with the Non-United States Holder&#146;s conduct of a trade or business in the United States. If the Non-United
States Holder is entitled to the benefits of an income tax treaty with respect to that gain, that gain generally is taxable only if it is attributable to a permanent establishment maintained by the Non-United States Holder in the United States; or
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Non-United States Holder is an individual who is present in the United States for 183 days or more during the taxable year of disposition and other
conditions are met. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If the Non-United States Holder is engaged in a United States trade or business for
United States federal income tax purposes, the income from the common stock, including dividends and the gain from the sale, exchange or other disposition of the stock that is effectively connected with the conduct of that trade or business will
generally be subject to regular United States federal income tax in the same manner as discussed in the previous section relating to the taxation of United States Holders. In addition, in the case of a corporate Non-United States Holder, such
holder&#146;s earnings and profits that are attributable to the effectively connected income, which are subject to certain adjustments, may be subject to an additional branch profits tax at a rate of 30%, or at a lower rate as may be specified by an
applicable income tax treaty. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Backup Withholding and Information Reporting </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In general, dividend payments, or other taxable distributions, made within the United States to a non-corporate United States Holder will
be subject to information reporting requirements and backup withholding tax if such holder: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">fails to provide an accurate taxpayer identification number; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">is notified by the Internal Revenue Service that you have failed to report all interest or dividends required to be shown on your federal income tax
returns; or </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">in certain circumstances, fails to comply with applicable certification requirements. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non-United States Holders may be required to establish their exemption from information reporting and backup withholding by certifying
their status on IRS Form W-8BEN, W-8ECI or W-8IMY, as applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a holder sells our common stock to or through a United
States office or broker, the payment of the proceeds is subject to both United States backup withholding and information reporting unless the holder certifies that it is a non-United States person, under penalties of perjury, or the holder otherwise
establishes an exemption. If a holder sells our common stock through a non-United States office of a non-United States broker and the sales proceeds are paid outside the United States then information reporting and backup withholding generally will
not apply to that payment. However, United States information reporting requirements, but not backup withholding, will apply to a payment of sales proceeds, even if that payment is made outside the United States, if a holder sells our common stock
through a non-United States office of a broker that is a United States person or has some other contacts with the United States. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">85 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Backup withholding tax is not an additional tax. Rather, a holder generally may obtain a
refund of any amounts withheld under backup withholding rules that exceed such stockholder&#146;s income tax liability by filing a refund claim with the Internal Revenue Service. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>F. Dividends and Paying Agents </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>G. Statement by Experts </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>H.
Documents on Display </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are subject to the informational requirements of the Exchange Act. In accordance with these
requirements, we file reports and other information as a foreign private issuer with the SEC. You may inspect and copy our public filings without charge at the public reference facilities maintained by the Securities and Exchange Commission at 100 F
Street, N.E., Washington, D.C. 20549. You may obtain information on the operation of the public reference room by calling 1 (800)&nbsp;SEC-0330, and you may obtain copies at prescribed rates from the Public Reference Section of the SEC at its
principal office at 100 F Street, N.E., Washington, D.C. 20549. The SEC maintains a website (http://www.sec.gov) that contains reports, proxy and information statements and other information regarding registrants that file electronically with the
SEC. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>I. Subsidiary Information </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_14"></A>Item&nbsp;11.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Quantitative and Qualitative Disclosures About Market Risk </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Our risk management policy </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our primary market risks relate to adverse
movements in freight rates for small LPG carriers and any declines that may occur in the value of our assets which are made up primarily of small LPG carriers. Our policy is to also continuously monitor our exposure to other business risks,
including the impact of changes in interest rates, currency rates, and bunker prices on earnings and cash flows. We assess these risks and, when appropriate, enter into derivative contracts with credit-worthy counter parties to minimize our exposure
to the risks. In regard to bunker prices, as our employment policy for our vessels has continued to be and is expected to continue with a high percentage of our fleet on period employment, we are not directly exposed for the majority of our fleet to
increases in bunker fuel prices as these are the responsibility of the charterer under period charter arrangements. For the remainder of the fleet operating in the spot market we do not intend to enter into bunker hedging arrangements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">86 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Interest rate risk </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We are subject to market risks relating to changes in interest rates, because we have floating rate debt outstanding under our loan agreements on which we pay interest based on LIBOR plus a margin. In
order to manage our exposure to changes in interest rates due to this floating rate indebtedness, we enter into interest rate swap agreements. Set forth below is a table of our interest rate swap arrangements converting floating interest rate
exposure into fixed as of December&nbsp;31, 2015 and 2016. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


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<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Effective<BR>Date</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Termination<BR>Date</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Notional<BR>Amount<BR>on&nbsp;Effective<BR>Date<BR>(in&nbsp;millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fixed Rate<BR>(StealthGas<BR>pays)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Floating&nbsp;Rate<BR>(StealthGas<BR>Receives)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value<BR>December&nbsp;31,<BR>2015<BR>(in millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Notional<BR>Amount<BR>December&nbsp;31,<BR>2015<BR>(in millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Estimated<BR>Notional<BR>Amount<BR>December&nbsp;31,<BR>2016<BR>(in millions)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap&nbsp;1</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">March&nbsp;9,&nbsp;2006</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">March&nbsp;9,&nbsp;2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">22.5</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">4.52</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%(1)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">6&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">0.09</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">4.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar&nbsp;LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap 2</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">September&nbsp;9,&nbsp;2009</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">March&nbsp;9,&nbsp;2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">53.3</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">4.73</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">3&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">0.21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">19.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar&nbsp;LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap 3</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">September 30, 2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">September 30, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">17.6</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">2.60</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">3&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">0.58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">16.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">14.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar&nbsp;LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap 4</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">September&nbsp;30,&nbsp;2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">September&nbsp;30,&nbsp;2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">17.6</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">1.69</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">3&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">0.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">16.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">14.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar&nbsp;LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap 5</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">October 2, 2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">October 2, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">12.1</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">1.54</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">3&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">12.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11.2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar&nbsp;LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap 6</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">November 4, 2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">August 4, 2021</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11.2</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">1.52</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">3&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(0.06</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11.2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">10.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Swap 7</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">December 3, 2015</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ROWSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">September 3, 2021</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11.2</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">1.55</FONT></TD>
<TD ROWSPAN="2" NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">3&nbsp;month&nbsp;U.S.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(0.06</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11.2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">10.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">dollar&nbsp;LIBOR</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">0.86</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">92.2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">60.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">If the United States dollar six month LIBOR is less than or equal to 5.75%, the fixed rate is 4.52%. If the United States dollar six month LIBOR is higher than 5.75%,
then the fixed rate would be the United States dollar six month LIBOR less 123 basis points. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of
December&nbsp;31, 2015, total bank indebtedness of the Company was $422.2 million, of which $92.2 million was covered by the interest rate swap agreements described above. As set forth in the above table, as of December&nbsp;31, 2015, we paid fixed
rates ranging from 1.52% to 4.73% and received floating rates based on LIBOR of approximately 0.38% under our seven floating-to-fixed rate interest rate swap agreements. We have not and do not intend to enter into interest rate swaps for speculative
purposes. Based on the amount of our outstanding indebtedness as of December&nbsp;31, 2015, and our interest swap arrangements as of December&nbsp;31, 2015, a hypothetical one percentage point increase in relevant interest rates (three and six month
U.S. dollar LIBOR) would increase our interest expense, on an annualized basis, by approximately $2.7 million (2014: $2.5 million) for the year ended December&nbsp;31, 2015. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Foreign exchange rate fluctuation </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We generate all of our revenues in U.S.
dollars and incurred about 15% of our expenses in currencies other than U.S. dollars in 2015 (2014: 16%). For accounting purposes, expenses incurred in other currencies are converted into U.S. dollars at the exchange rate prevailing on the date of
each transaction. Due to our relatively low percentage exposure of any particular currency other than our base currency, which is the U.S. dollar we believe that such currency movements will not otherwise have a material effect on us. As such, we do
not hedge these exposures as the amounts involved do not make hedging economic. As of April&nbsp;1, 2016 we have no payment obligations related to the building of vessels in currencies other than U.S. dollars. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have not and do not intend to enter into foreign currency contracts for speculative purposes. Please read Note 2 (Significant
Accounting Policies), Note 11 (Long Term Debt) and Note 12 (Derivative and Fair Value Disclosures) to our Financial Statements included herein, which provide additional information with respect to our derivative financial instruments and existing
debt agreements. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_15"></A>Item&nbsp;12.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Description of Securities Other than Equity Securities </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not Applicable. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">87 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_16"></A>PART II </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_17"></A>Item&nbsp;13.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Defaults, Dividend Arrearages and Delinquencies </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_18"></A>Item&nbsp;14.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Material Modifications to the Rights of Security Holders and Use of Proceeds </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_19"></A>Item&nbsp;15.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Controls and Procedures </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>a. Disclosure
Controls and Procedures </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">StealthGas&#146;s management, with the participation of its Chief Executive Officer and Chief
Financial Officer, has evaluated the effectiveness of the design and operation of the Company&#146;s disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of December&nbsp;31, 2015. Disclosure
controls and procedures are defined under SEC rules as controls and other procedures that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded,
processed, summarized and reported within required time periods. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits
under the Exchange Act is accumulated and communicated to the issuer&#146;s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding
required disclosure. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures. Accordingly,
even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on the Company&#146;s evaluation, management concluded that the Company&#146;s disclosure controls and procedures were effective as
of December&nbsp;31, 2015. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>b. Management&#146;s Report on Internal Control over Financial Reporting </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s management is responsible for establishing and maintaining adequate internal control over financial reporting, as
defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act, and for the assessment of the effectiveness of internal control over financial reporting. The Company&#146;s internal control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles in the United States (&#147;GAAP&#148;). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A company&#146;s internal control over financial reporting includes those policies and procedures that (i)&nbsp;pertain to the
maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit the
preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii)&nbsp;provide reasonable
assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#146;s assets that could have a material effect on the financial statements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">88 </FONT></P>



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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In making its assessment of the Company&#146;s internal control over financial reporting as
of December&nbsp;31, 2015, management used the criteria set forth in Internal Control&#151;Integrated Framework (2013)&nbsp;issued by the Committee of Sponsoring Organizations of the Treadway Commission (&#147;COSO&#148;) and evaluated the internal
control over financial reporting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management concluded that, as of December&nbsp;31, 2015 the Company&#146;s internal control
over financial reporting was effective. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>c. Attestation Report of the Registered Public Accounting Firm </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The effectiveness of our internal control over financial reporting as of December&nbsp;31, 2015 has been audited by Deloitte Hadjipavlou
Sofianos&nbsp;&amp; Cambanis S.A., an independent registered public accounting firm, as stated in their report which appears herein. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">89 </FONT></P>



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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">To the Board of Directors and Stockholders of StealthGas Inc. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have audited the internal control over financial reporting of StealthGas Inc. and subsidiaries (the &#147;Company&#148;) as of December&nbsp;31, 2015, based on criteria established in <I>Internal
Control&#151;Integrated Framework</I> (2013)&nbsp;issued by the Committee of Sponsoring Organizations of the Treadway Commission. The Company&#146;s management is responsible for maintaining effective internal control over financial reporting and
for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management&#146;s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the
Company&#146;s internal control over financial reporting based on our audit. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">We conducted our audit in accordance with the standards of the
Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material
respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the
assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">A company&#146;s internal control over financial reporting is a process designed by, or under the supervision of, the company&#146;s principal executive and principal financial officers, or persons
performing similar functions, and effected by the company&#146;s board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting principles. A company&#146;s internal control over financial reporting includes those policies and procedures that (1)&nbsp;pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)&nbsp;provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#146;s assets that could have a material effect on the financial statements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or
fraud may not be prevented or detected on a timely basis. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">In our opinion, the
Company maintained, in all material respects, effective internal control over financial reporting as of December&nbsp;31, 2015, based on the criteria established in <I>Internal Control&#151;Integrated Framework (2013)&nbsp;</I>issued by the
Committee of Sponsoring Organizations of the Treadway Commission. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have also audited, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), the consolidated financial statements as of and for the year ended December&nbsp;31, 2015 of the Company and our report dated April&nbsp;22, 2016 expressed an unqualified opinion on those financial
statements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Deloitte Hadjipavlou Sofianos&nbsp;&amp; Cambanis S.A. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Athens, Greece </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;22, 2016 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">90 </FONT></P>



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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>d. Changes in Internal Control Over Financial Reporting </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">During the period covered by this Annual Report on Form 20-F, we have made no changes to our internal control over financial reporting
that have materially affected or are reasonably likely to materially affect our internal control over financial reporting. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_20"></A>Item&nbsp;16A.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Audit Committee Financial Expert </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Board has determined that Markos Drakos is an Audit Committee financial expert as defined by the U.S. Securities and Exchange Commission and meets the applicable independence requirements of the U.S.
Securities and Exchange Commission and the Nasdaq Stock Market. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_21"></A>Item&nbsp;16B.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Code of Ethics </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have
adopted a Code of Business Conduct and Ethics, a copy of which is posted on our website, and may be viewed at http://www.stealthgas.com. We will also provide a paper copy free of charge upon written request by our stockholders. Stockholders may
direct their requests to the attention of: Investment Relations, 331 Kifissias Avenue, Erithrea 14561 Athens, Greece. No waivers of the Code of Business Conduct and Ethics were granted to any person during the fiscal year ended December&nbsp;31,
2015. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_22"></A>Item&nbsp;16C.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Principal Accountant Fees and Services </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Remuneration of Deloitte Hadjipavlou Sofianos&nbsp;&amp; Cambanis S.A.(&#147;Deloitte&#148;), an Independent Registered Public Accounting Firm (in thousands): </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Audit fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">343</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">621</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Assurance/audit related fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tax fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">All other fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>343</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>621</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B>(1)</B><B><I> Audit fees </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Audit fees represent compensation for professional services rendered for (i)&nbsp;the audit of our financial statements included herein;
(ii)&nbsp;the review of our quarterly financial information; and (iii)&nbsp;services provided in connection with public or private offerings and any other services performed for SEC or other regulatory filings by us or our subsidiaries. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B>(2)</B><B><I> Assurance / Audit Related Fees </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Deloitte did not provide any services that would be classified in this category in 2015 and 2014. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B>(3)</B><B><I> Tax Fees </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Deloitte did not provide any tax services in 2015 and 2014. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B>(4)</B><B><I> All
Other Fees </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deloitte did not provide any other services that would be classified in this category in 2015 and 2014.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">91 </FONT></P>



<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Non-audit services </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Audit Committee of our Board of Directors has the authority to pre-approve permissible audit-related and non-audit services not prohibited by law to be performed by our independent auditors and
associated fees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Engagements for proposed services either may be separately pre-approved by the audit committee or entered
into pursuant to detailed pre-approval policies and procedures established by the audit committee, as long as the audit committee is informed on a timely basis of any engagement entered into on that basis. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Approval for other permitted non-audit services has to be sought on an ad hoc basis. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Where no Audit Committee meeting is scheduled within an appropriate time frame, the approval is sought from the Chairman of the Audit
Committee subject to confirmation at the next meeting. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_23"></A>Item&nbsp;16D.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exemptions from the Listing Standards for Audit Committees </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">None. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_24"></A>Item&nbsp;16E.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Purchases of Equity Securities by the Issuer and Affiliated Purchasers </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;26, 2014, we publicly announced that our Board of Directors had authorized the repurchase of up to $10,000,000 of shares of our common stock and on February&nbsp;26, 2015 we publicly
announced that our Board of Directors had approved an additional $20,000,000 of common stock repurchases. Shares may be purchased from time to time in open market or privately negotiated transactions, which may include derivative transactions, at
times and prices that are considered to be appropriate by the Company and the program may be discontinued at any time. The below table presents information about our stock repurchases through March&nbsp;31, 2016. All purchases have been made on the
open market within the safe harbor provisions of Regulation 10b-18 under the Exchange Act. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:22pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Period</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total<BR>Number&nbsp;of<BR>Shares<BR>Purchased<BR>(a)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Average<BR>Price<BR>Paid&nbsp;Per<BR>Share<BR>(b)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total<BR>Number<BR>of Shares<BR>Purchased&nbsp;as<BR>Part of<BR>Publicly<BR>Announced<BR>Plans
or<BR>Programs<BR>(c)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Maximum<BR>Approximate<BR>Dollar Value<BR>of Shares<BR>that&nbsp;May&nbsp;Yet&nbsp;Be<BR>Purchased<BR>Under
the<BR>Plans or<BR>Programs<BR>(d)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;1 to 31, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">843,022</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">843,022</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,688,961</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">January&nbsp;2 to 21, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">607,226</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.07</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,450,248</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,003,100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;26, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">137,013</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.03</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,587,261</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,176,911</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">March&nbsp;9 to 18, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">172,833</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,760,094</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19,113,988</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;15 to 30, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">51,133</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,811,227</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18,775,999</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">May&nbsp;1 to 27, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">320,909</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,132,136</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,654,791</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;9 to 22, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">47,039</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,179,175</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,342,922</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;13 to 24, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">31,198</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.71</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,210,373</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,164,781</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">August&nbsp;3 to 31, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">139,900</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.01</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,350,273</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,463,882</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">September&nbsp;1 to 29, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">437,771</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,787,044</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,485,310</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">October&nbsp;1 to 30, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">226,949</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.46</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,013,993</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,473,117</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">November&nbsp;1 to 30, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">60,491</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,074,484</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,214,216</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;1 to 31, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">140,635</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,215,119</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,741,682</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">January&nbsp;1 to 31, 2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">329,501</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.89</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,544,620</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,789,424</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;1 to 29, 2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">71,894</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,616,514</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,590,278</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">March&nbsp;1 to 31, 2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">242,783</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.45</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,859,297</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,752,677</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We did not repurchase any shares of our common stock in 2013. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">92 </FONT></P>



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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_25"></A>Item&nbsp;16F.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Change in Registrant&#146;s Certifying Accountant </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not Applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_26"></A>Item&nbsp;16G.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Corporate Governance </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Statement of
Significant Differences Between our Corporate Governance Practices and Nasdaq Corporate Governance Standards for Non-Controlled U.S. Issuers </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">As a foreign private issuer, we are not required to comply with certain of the corporate governance practices followed by U.S. companies under the Nasdaq corporate governance standards. We however,
voluntarily comply in full with all applicable Nasdaq corporate governance standards other than that, while Nasdaq requires listed companies to obtain prior shareholder approval for certain issuances of authorized stock in transactions not involving
a public offering, as permitted under Marshall Islands law and our articles of incorporation and bylaws, we do not need prior shareholder approval to issue shares of authorized stock. </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_27"></A>Item&nbsp;16H.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Mine Safety Disclosures </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not Applicable </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">93 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_28"></A>PART III </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_29"></A>Item&nbsp;17.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Financial Statements </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not
Applicable. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_30"></A>Item&nbsp;18.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Financial Statements </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reference is made to the financial statements beginning on page F-1, which are incorporated herein by reference. </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc170255_31"></A>Item&nbsp;19.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibits </B></FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="88%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;1.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amended and Restated Articles of Incorporation of the Company(1)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;1.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amended and Restated Bylaws of the Company(2)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;4.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amended and Restated Management Agreement between the Company and Stealth Maritime S.A., as amended(3)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;4.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Right of First Refusal among the Company, Harry Vafias and Stealth Maritime S.A.(1)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;4.3</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">StealthGas Inc.&#146;s 2005 Equity Compensation Plan, amended and restated(4)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;4.4</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">StealthGas Inc.&#146;s 2015 Equity Compensation Plan(5)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Subsidiaries</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;12.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certification of the Chief Executive Officer</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;12.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certification of the Chief Financial Officer</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;13.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as added by Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;13.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as added by Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;15.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Consent of Independent Registered Public Accounting Firm</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">101.INS</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">XBRL Instance Document</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">101.SCH</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">XBRL Taxonomy Extension Schema</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">101.CAL</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">XBRL Taxonomy Extension Calculation Linkbase</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">101.DEF</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">XBRL Taxonomy Extension Definition Linkbase</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">101.LAB</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">XBRL Taxonomy Extension Label Linkbase</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">101.PRE</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">XBRL Taxonomy Extension Presentation Linkbase</FONT></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to the Company&#146;s Registration Statement on Form F-1 (File No.&nbsp;333-127905) filed with the SEC and hereby incorporated by
reference to such Registration Statement. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to a Report on Form 6-K filed with the SEC on December&nbsp;24, 2014. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to the Company&#146;s Annual Report on Form 20-F for the year ended December&nbsp;31, 2006 filed with the SEC on June&nbsp;5, 2007.
</FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to the Company&#146;s Annual Report on Form 20-F for the year ended December&nbsp;31, 2007 filed with the SEC on June&nbsp;11, 2008.
</FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to Form S-8 filed with the SEC on September&nbsp;29, 2015. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">94 </FONT></P>



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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


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<TD WIDTH="86%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>STEALTHGAS INC.</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Harry N. Vafias</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Harry N. Vafias</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>President and Chief Executive Officer</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: 22&nbsp;April, 2016 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">95 </FONT></P>



<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>StealthGas Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Consolidated Financial Statements </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Index to consolidated financial
statements </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Pages</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_11">Report of Independent Registered Public Accounting Firm</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_12">Consolidated Balance Sheets&#151;As of December&nbsp;31, 2014 and 2015</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_13">Consolidated Statements of Income for the years ended December&nbsp;31, 2013, 2014 and
2015</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_14">Consolidated Statements of Comprehensive Income for the years ended December&nbsp;31, 2013, 2014 and
2015</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_15">Consolidated Statements of Stockholders&#146; Equity for the years ended December&nbsp;
31, 2013, 2014 and 2015</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_16">Consolidated Statements of Cash Flows for the years ended December&nbsp;31, 2013, 2014 and
2015</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fin170255_17">Notes to the Consolidated Financial Statements</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_11"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">To the Board of Directors and Stockholders of StealthGas Inc. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have audited the accompanying consolidated balance sheets of StealthGas Inc. and subsidiaries (the &#147;Company&#148;) as of December&nbsp;31, 2014 and 2015, and the related consolidated statements of
income, comprehensive income, stockholders&#146; equity, and cash flows for each of the three years in the period ended December&nbsp;31, 2015. These financial statements are the responsibility of the Company&#146;s management. Our responsibility is
to express an opinion on these financial statements based on our audits. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We conducted our audits in accordance with the
standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In our
opinion, such consolidated financial statements present fairly, in all material respects, the financial position of StealthGas Inc. and subsidiaries as of December&nbsp;31, 2014 and 2015, and the results of their operations and their cash flows for
each of the three years in the period ended December&nbsp;31, 2015, in conformity with accounting principles generally accepted in the United States of America. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company&#146;s internal control over financial reporting as of
December&nbsp;31, 2015, based on the criteria established in <I>Internal Control&#151;Integrated Framework (2013)</I>&nbsp;issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated April&nbsp;22, 2016
expressed an unqualified opinion on the Company&#146;s internal control over financial reporting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Deloitte Hadjipavlou
Sofianos&nbsp;&amp; Cambanis S.A. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;22, 2016 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Athens, Greece </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_12"></A>StealthGas Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Consolidated Balance Sheets </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>As of December&nbsp;31, 2014 and 2015 (Expressed in United
States Dollars) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Note</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Assets</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Current assets</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">129,114,803</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">100,062,957</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Receivable from related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">104,476</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">112,895</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Trade and other receivables</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,211,563</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,743,869</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Claims receivable</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">70,273</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Inventories</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,958,666</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,916,254</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Advances and prepayments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,386,003</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,249,402</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted cash</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,896,677</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,455,766</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel held for sale</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">831,226</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total current assets</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>139,742,461</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>123,372,369</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Non current assets</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Advances for vessels under construction and acquisitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">88,965,085</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">44,031,882</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels, net</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">711,352,845</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">864,689,888</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other receivables from related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">228,494</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">115,599</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted cash</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,146,877</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred finance charges</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,569,375</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">390,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fair value of derivatives</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">127,555</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total non current assets</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>804,615,799</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>914,501,801</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total assets</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>944,358,260</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1,037,874,170</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Liabilities and Stockholders&#146; Equity</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Current liabilities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Payable to related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,941,896</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,188,852</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Trade accounts payable</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,843,593</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,328,878</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accrued liabilities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,903,027</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,602,939</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,711,945</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,954,193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred income&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">180,383</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">413,157</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fair value of derivatives</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">583,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">297,656</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current portion of long-term debt</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">42,125,662</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">74,928,451</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total current liabilities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>67,289,874</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>103,714,126</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Non current liabilities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fair value of derivatives</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,873,295</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">681,197</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Customer deposits</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,556,700</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred gain on sale and leaseback of vessels</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">775,741</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">580,701</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">172,428</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56,183</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Long-term debt</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">281,856,648</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">347,234,103</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total noncurrent liabilities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>284,678,112</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>351,108,884</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total liabilities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>351,967,986</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>454,823,010</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Commitments and contingencies</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B>18<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Stockholders&#146; equity</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capital stock, 5,000,000 preferred shares authorized and zero outstanding with a par value of $0.01 per share, 100,000,000 common
shares authorized 44,285,108 shares issued and 42,889,773 shares outstanding at December&nbsp;31, 2014 and 44,285,108 shares issued and 40,517,676 shares outstanding at December&nbsp;31, 2015 with a par value of $0.01 per share</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">442,850</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">442,850</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Treasury stock, 1,395,335 shares at December&nbsp;31, 2014 and 3,767,432 shares at December&nbsp;31, 2015 with a par value of
$0.01 per share</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(7,541,264</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(20,486,872</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Additional paid-in capital</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">499,862,062</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">501,002,146</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Retained earnings</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">99,919,646</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">102,486,324</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accumulated other comprehensive loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(293,020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(393,288</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total stockholders&#146; equity</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>592,390,274</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>583,051,160</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total liabilities and stockholders&#146; equity</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>944,358,260</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1,037,874,170</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-3
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_13"></A>StealthGas Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Consolidated Statements of Income </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>For the Years Ended December&nbsp;31, 2013, 2014 and
2015 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Expressed in United States Dollars, Except for Share Data) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Note</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Revenues</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Revenues</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">111,667,565</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">122,158,892</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">131,501,881</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Revenues&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,814,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,814,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,814,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total revenues</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>121,481,565</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>131,972,892</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>141,315,881</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Expenses</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,819,866</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,474,090</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,849,855</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,482,764</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,613,421</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,725,683</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charter hire expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">320,804</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,124,960</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels&#146; operating expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32,439,404</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,335,984</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46,477,583</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels&#146; operating expenses&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,084,149</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,099,352</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,177,042</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dry-docking costs</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,160,251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">465,681</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,774,905</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management fees&#151;related party</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,807,010</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,501,675</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,452,145</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">General and administrative expenses (including $1,323,836, $1,394,025, and $1,150,451, to related party)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,816,397</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,150,929</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,655,316</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Depreciation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30,761,673</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,811,607</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35,857,507</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Impairment loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,168,747</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,238,987</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net gain on sale of vessels</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(33,251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total expenses</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>92,371,514</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>108,942,290</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>128,300,732</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Income from operations</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>29,110,051</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>23,030,602</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>13,015,149</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Other (expenses)/income</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest and finance costs</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,189,475</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(9,314,539</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,385,261</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(27,470</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,348,384</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(370,584</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest income and other income/(expenses)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">361,820</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">456,924</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">173,083</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Foreign exchange (loss)/gain</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(37,733</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(138,777</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">134,291</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Other expenses, net</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(7,892,858</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(10,344,776</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(10,448,471</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net income</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>21,217,193</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12,685,826</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,566,678</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Earnings per share</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;Basic and diluted</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.06</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Weighted average number of shares</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;Basic and diluted</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,271,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">39,305,644</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,315,127</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:95px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-4
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_14"></A>StealthGas Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Consolidated Statements of Comprehensive Income </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>For the Years Ended December&nbsp;31,
2013, 2014 and 2015 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Expressed in United States Dollars) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Note</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net income</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>21,217,193</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12,685,826</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,566,678</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Other comprehensive loss</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cash flow hedges</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective portion of changes in fair value of interest swap contracts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(293,020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(100,268</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reclassification adjustment</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(67,849</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Other comprehensive loss</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(67,849</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(243,549</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(100,268</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Comprehensive income</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>21,149,344</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12,442,277</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,466,410</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:500px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-5
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_15"></A>StealthGas Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Consolidated Statements of Stockholders&#146; Equity </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>For the Years Ended
December&nbsp;31, 2013, 2014 and 2015 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Expressed in United States Dollars, Except for Number of Shares) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


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<TD></TD>
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<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Capital stock</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Treasury stock</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>of</B></FONT><br><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Shares<BR>(Note 13)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Amount<BR>(Note&nbsp;13)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>of</B></FONT><br><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Shares<BR>(Note 13)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Amount<BR>(Note 13)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Additional<BR>Paid-in<BR>Capital</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Note
13)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Retained<BR>Earnings</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Accumulated<BR>Other<BR>Comprehensive<BR>Income/(Loss)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balance, January&nbsp;1, 2013</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">21,179,642</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">211,796</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(552,313</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(2,234,173</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">278,020,814</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">66,016,627</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">18,378</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">342,033,442</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Issuance of common shares</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11,500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">115,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">109,004,029</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">109,119,029</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Stock based compensation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">292,628</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">292,628</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Comprehensive income for the year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">21,217,193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(67,849</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">21,149,344</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balance, December&nbsp;31, 2013</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">32,679,642</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">326,796</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(552,313</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(2,234,173</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">387,317,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">87,233,820</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(49,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">472,594,443</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Issuances of common shares</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">11,374,753</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">113,747</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">112,188,931</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">112,302,678</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Issuance of restricted shares and related stock based compensation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">230,713</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">2,307</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">355,660</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">357,967</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Stock repurchase</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(843,022</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(5,307,091</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(5,307,091</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Comprehensive income for the year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">12,685,826</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(243,549</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">12,442,277</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balance, December&nbsp;31, 2014</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">44,285,108</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">442,850</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(1,395,335</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(7,541,264</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">499,862,062</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">99,919,646</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(293,020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">592,390,274</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Stock based compensation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">1,140,084</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">1,140,084</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Stock repurchase</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(2,372,097</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(12,945,608</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(12,945,608</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1">Comprehensive income for the year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">2,566,678</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(100,268</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">2,466,410</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balance, December&nbsp;31, 2015</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">44,285,108</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">442,850</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(3,767,432</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(20,486,872</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">501,002,146</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">102,486,324</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">(393,288</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="1">583,051,160</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:180px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-6
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_16"></A>StealthGas Inc</B>.<B> </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Consolidated Statements of Cash Flows </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>For the Years Ended December&nbsp;31, 2013, 2014 and 2015 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Expressed in United States Dollars) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cash flows from operating activities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net income for the year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,217,193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,685,826</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,566,678</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Adjustments to reconcile net income to net cash provided by operating activities:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Depreciation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30,761,673</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,811,607</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35,857,507</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amortization of deferred finance charges</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">425,933</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">656,341</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">587,157</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amortization of deferred gain on sale and leaseback of vessels</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4,954</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(195,040</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Unrealized exchange differences</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,745</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">251,662</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Share based compensation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">292,628</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">357,967</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,140,084</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Change in fair value of derivatives</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,784,123</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,019,853</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,705,633</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Impairment loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,168,747</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,238,987</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gain on sale of vessels</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(33,251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Changes in operating assets and liabilities:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Increase)/decrease in</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Trade and other receivables</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,055,817</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,869,466</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,532,306</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Claims receivable</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,905,152</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(317,570</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,192,422</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Inventories</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">691,314</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(497,573</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(39,991</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Advances and prepayments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(280,218</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(670,559</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">136,601</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Increase/(decrease) in</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Balances with related parties</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,452,332</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(999,147</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,351,432</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Trade accounts payable</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,442,443</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,104,798</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(183,896</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accrued liabilities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25,207</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,022,650</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,699,912</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,744,881</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">818,327</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,641,223</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net cash provided by operating activities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>49,127,375</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>55,237,735</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>48,054,596</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cash flows from investing activities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Insurance proceeds</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,801,120</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">384,164</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,262,695</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels&#146; acquisitions and advances for vessels under construction</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(124,406,294</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(129,891,982</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(155,072,744</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proceeds from sale of vessels, net</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">27,929,931</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,010,302</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net proceeds related to cancellation of vessels&#146; acquisitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,044,799</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Decrease in restricted cash account</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,818,753</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">425,225</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">571,293</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Increase in restricted cash account</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(13,777,259</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net cash used in investing activities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(119,786,421</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(91,107,863</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(165,005,713</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cash flows from financing activities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stock repurchase</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4,789,158</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(13,429,891</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net proceeds from common stock issuance</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">109,119,029</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">112,302,678</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred finance charges paid</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,747,031</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,130,675</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(383,950</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Customer deposits received</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,556,700</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Customer deposits paid</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(280,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loan repayments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(37,696,190</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(75,268,462</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(55,943,588</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proceeds from long-term debt</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">45,212,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">47,903,693</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">155,100,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net cash provided by financing activities</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>114,608,308</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>79,018,076</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>87,899,271</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effect of exchange rate changes on cash</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3,745</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(251,662</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net increase/(decrease) in cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">43,945,517</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">42,896,286</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(29,051,846</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cash and cash equivalents at beginning of year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">42,273,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">86,218,517</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">129,114,803</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cash and cash equivalents at end of year</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>86,218,517</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>129,114,803</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>100,062,957</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Supplemental Cash Flow Information:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cash paid during the year for interest, net of amounts capitalized</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,374,110</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,770,830</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,455,713</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non cash financing activity&#151;Stock repurchase</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">517,933</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,650</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non cash investing activity&#151;Vessels under construction</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">153,464</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-7
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="fin170255_17"></A>StealthGas Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Notes to the Consolidated Financial Statements </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Expressed in United States Dollars)
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1. Basis of Presentation and General Information </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The accompanying consolidated financial statements include the accounts of StealthGas Inc. and its wholly owned subsidiaries (collectively, the &#147;Company&#148;) which, as of December&nbsp;31, 2015
owned a fleet of forty nine liquefied petroleum gas (LPG) carriers, three medium range (M.R.) type product carriers and one Aframax tanker providing worldwide marine transportation services under long, medium or short-term charters. StealthGas Inc.
was formed under the laws of Marshall Islands on December&nbsp;22, 2004. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s vessels are managed by Stealth
Maritime Corporation S.A. (the &#147;Manager&#148;), a related party. The Manager is a company incorporated in Liberia and registered in Greece on May&nbsp;17, 1999 under the provisions of law 89/1967, 378/1968 and article 25 of law 27/75 as amended
by article 4 of law 2234/94. (See Note 3). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">During 2013, 2014 and 2015, the following charterers individually accounted for
10% or more of the Company&#146;s revenues as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:88pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year&nbsp;ended&nbsp;December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:34pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Charterer</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">B</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2. Significant Accounting Policies </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Principles of Consolidation: </I></B>The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America
(&#147;US GAAP&#148;) and include the accounts of StealthGas Inc. and its wholly owned subsidiaries. All inter-company balances and transactions have been eliminated upon consolidation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Use of Estimates: </I></B>The preparation of consolidated financial statements in conformity with US&nbsp;GAAP requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Other Comprehensive Income/(Loss):
</I></B>The Company follows the provisions of guidance regarding reporting comprehensive income which requires separate presentation of certain transactions, such as unrealized gains and losses from effective portion of cash flow hedges, which are
recorded directly as components of stockholders&#146; equity. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Foreign Currency Translation: </I></B>The functional
currency of the Company is the U.S.&nbsp;Dollar because the Company&#146;s vessels operate in international shipping markets, which utilize the U.S.&nbsp;Dollar as the functional currency. The accounting books of the Company are maintained in U.S.
Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated
in other currencies, are translated to reflect the period end exchange rates. Resulting gains or losses are separately reflected in the accompanying consolidated statements of income. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Cash and Cash Equivalents: </I></B>The Company considers highly liquid investments such as time deposits and certificates of
deposit with original maturity of three months or less to be cash equivalents. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Restricted Cash: </I></B>Restricted cash mainly reflects deposits with certain banks
that can only be used to pay the current loan installments or which are required to be maintained as a certain minimum cash balance per mortgaged vessel or cash held in restricted bank account for guarantees issued by the bank on the Company&#146;s
behalf. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Trade Receivables: </I></B>The amount shown as trade receivables includes estimated recoveries from charterers for hire, freight
and demurrage billings, net of allowance for doubtful accounts. At each balance sheet date, all potentially un-collectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision
for doubtful accounts was required for any of the periods presented. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Claims Receivable: </I></B>Claims receivable are
recorded on the accrual basis and represent the claimable expenses, net of deductibles, incurred through each balance sheet date, for which recovery from insurance companies is probable and claim is not subject to litigation. Any remaining costs to
complete the claims are included in accrued liabilities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Inventories: </I></B>Inventories consist of bunkers (for
vessels under voyage charter) and lubricants. The cost is determined by the first-in, first-out method. The Company considers victualing and stores as being consumed when purchased and, therefore, such costs are expensed when incurred. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Advances for vessels under construction: </I></B>This represents amounts expended by the Company in accordance with the terms of
the construction contracts for vessels as well as other expenses in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are
capitalized. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Vessels Acquisitions: </I></B>Vessels are stated at cost, which consists of the contract price less
discounts and any material expenses incurred upon acquisition (initial repairs, improvements, acquisition and expenditures made to prepare the vessel for its initial voyage). Subsequent expenditures for conversions and major improvements are also
capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels, or otherwise are charged to expenses as incurred. The Company records all identified tangible and intangible assets
associated with the acquisition of a vessel or liabilities at fair value. Where vessels are acquired with existing time charters, the Company allocates the purchase price to the time charters based on the present value (using an interest rate which
reflects the risks associated with the acquired charters) of the difference between (i)&nbsp;the contractual amounts to be paid pursuant to the charter terms and (ii)&nbsp;management&#146;s estimate of the fair market charter rate, measured over a
period equal to the remaining term of the charter. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to revenues over the remaining term of the charter. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Impairment or Disposal of Long-lived Assets: </I></B>The Company follows the Accounting Standards Codification (&#147;ASC&#148;)
Subtopic 360-10, &#147;Property, Plant and Equipment&#148; (&#147;ASC 360-10&#148;), which requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows
estimated to be generated by those assets are less than their carrying amounts. If indicators of impairment are present, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the
carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value and the difference is recorded as an impairment loss in the consolidated statements of income. Various factors including
anticipated future charter rates, estimated scrap values, future dry-docking costs and estimated vessel operating costs are included in this analysis. These factors are based on historical trends as well as future expectations. Undiscounted
cashflows are determined by considering the revenues from existing charters for those vessels that have long term employment and when there is no charter in place the estimates based on historical average rates with an annual increase of 1%. The
Company also assumes an average annual inflation rate of 1.50% for operating </FONT></P>
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expenses. No impairment loss was identified or recorded for the year ended December&nbsp;31, 2013. An impairment loss was identified and recorded for the years ended December&nbsp;31, 2014 and
2015 (Note 6). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Vessels&#146; Depreciation: </I></B>The cost of each of the Company&#146;s vessels is depreciated on a
straight-line basis over the vessel&#146;s remaining economic useful life, after considering the estimated residual value. Management estimates the useful life of each of the Company&#146;s LPG carriers to be 30 years and product and aframax
tankers, to be 25 years, from the date of their construction. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Assets Held for Sale: </I></B>It is the Company&#146;s
policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies vessels as being held for sale when the following criteria are met: (i)&nbsp;management
possessing the necessary authority has committed to a plan to sell the vessels, (ii)&nbsp;the vessels are available for immediate sale in their present condition, (iii)&nbsp;an active program to find a buyer and other actions required to complete
the plan to sell the vessels have been initiated, (iv)&nbsp;the sale of the vessels is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year and (v)&nbsp;the vessels are being actively
marketed for sale at a price that is reasonable in relation to their current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.
Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. Furthermore, in the period a
vessel meets the held for sale criteria in accordance with ASC 360-10, a loss is recognized for any reduction of the vessel&#146;s carrying amount to its fair value less cost to sell. No assets were held for sale as of December&nbsp;31, 2014.
Concerning assets held for sale as of December&nbsp;31, 2015, refer to Note 6. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Segment Reporting: </I></B>The Company
reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the chief operating decision maker,
reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer
is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Accounting for Special Survey and Dry-docking Costs: </I></B>Special survey and dry-docking costs and all non-capitalizable repair
and maintenance expenses are expensed in the period incurred. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Deferred Finance Charges: </I></B>Fees incurred for
obtaining new loans or refinancing existing ones are deferred and amortized to interest expense over the life of the related debt using the effective interest method. The unamortized deferred financing charges are presented as a direct deduction
from the carrying amount of the related loan and credit facility in the consolidated balance sheet. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing is made. Deferred financing costs
relating to undrawn facilities are presented under non-current assets in the consolidated balance sheet. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Accounting for
Revenue and Related Expenses: </I></B>The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using either voyage charters, where a contract is made in the spot market for the use of a vessel for
a specific voyage for a specified charter rate, or time and bareboat charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily or monthly charter hire rate payable monthly in advance. If a
charter agreement exists and the price is fixed, service is provided and collection of the related revenue is reasonably assured, revenue is recognized as it is earned ratably on a straight-line basis over the duration of the period of each voyage
or period charter. A voyage is deemed to commence upon the completion of discharge of the vessel&#146;s previous cargo and is deemed to end upon the completion of discharge of the current cargo, but the Company does not begin recognizing revenue
until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port for its next voyage. Demurrage income represents payments by a charterer to a vessel owner
when loading or discharging time exceeds the stipulated time in the voyage charter and is </FONT></P>
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recognized ratably as earned during the related voyage charter&#146;s duration period. Deferred income includes cash received prior to the balance sheet date and is related to revenue earned
after such date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voyage expenses comprise commissions, bunkers and port expenses and are unique to a particular charter.
Commissions in all cases are paid by the Company and are recognized on a pro-rata basis. All other voyage expenses are paid by the charterer under time charter arrangements or by the Company under voyage charter arrangements and are recognized as
incurred. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel operating expenses comprise all expenses relating to the operation of the vessel, including crewing, repairs
and maintenance, insurance, stores, lubricants and miscellaneous expenses. Vessel operating expenses are paid by the Company and are accounted for on an accrual basis. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating expenses, dry-docking expenses and risk of operation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Leasing: </I></B>Leases are classified as capital leases if they meet at least one of the following criteria: (i)&nbsp;the leased
asset automatically transfers title at the end of the lease term; (ii)&nbsp;the lease contains a bargain purchase option; (iii)&nbsp;the lease term equals or exceeds 75% of the remaining estimated economic life of the leased asset; (iv)&nbsp;or the
present value of the minimum lease payments equals or exceeds 90% of the excess of fair value of the leased property. If none of the above criteria is met, the lease is accounted for as an operating lease. Operating lease payments are recognized as
an operating expense in the consolidated statement of income on a straight-line basis over the lease term. For sale and lease back transactions, when the lease qualifies as an operating lease and the lease back is considered &#147;more than minor
but less than substantially all&#148; i.e. the seller-lessee retains more than a minor part but less than substantially all of the use of the asset, the resulting gains are deferred and amortized to income over the lease period. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Equity Compensation Plan: </I></B>Share-based compensation includes vested and non-vested shares granted to employees and to
non-employee directors, for their services as directors and is included in General and administrative expenses in the consolidated statements of income. These shares are measured at their fair value, which is equal to the market value of the
Company&#146;s common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and a total fair value of such shares is recognized in full on the grant date. The shares that contain a
time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized over the vesting period on a straight-line basis over the requisite service period for each separate portion
of the award as if the award was, in substance, multiple awards (graded vesting attribution method). In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until
non-employees complete the service (Note 14). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Earnings per Share: </I></B>Basic earnings per share are computed under
the two-class method by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common
stock were exercised. Dilution is computed by either the treasury stock method or the two&#150;class method, whichever results in the more dilutive effect. Under the treasury stock method, all of the Company&#146;s dilutive securities are assumed to
be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company&#146;s common stock during the relevant periods. The incremental shares (the difference between the number of shares
assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings per share computation to the extent these are not anti-dilutive (Note 15). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Derivatives</I></B>: The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed
interest rate for a certain period in exchange. The Company designates its derivatives based upon guidance on ASC 815, &#147;Derivatives and Hedging&#148; which establishes accounting and reporting requirements for
</FONT></P>
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derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. The guidance on accounting for certain derivative instruments and certain
hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are
met. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) <B>Hedge Accounting</B>: At the inception of a hedge relationship, the Company formally designates and documents the
hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the
nature of the risk being hedged and how the entity will assess the hedging instrument&#146;s effectiveness in offsetting exposure to changes in the hedged item&#146;s cash flows attributable to the hedged risk. Such hedges are expected to be highly
effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the
exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of &#147;Accumulated other
comprehensive income/loss&#148; in equity, while any ineffective portion, if any, is recognized immediately in current period earnings. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any
cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the
statement of income. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as a component of &#147;Loss on derivatives&#148;. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) <B>Other Derivatives</B>: Changes in the fair value of derivative instruments that have not been designated as hedging instruments
are reported in current period earnings. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Recent Accounting Pronouncements</I></B>: On May&nbsp;28, 2014, the Financial
Accounting Standards Board (&#147;FASB&#148;) issued Accounting Standard Update (&#147;ASU&#148;) No 2014-09 as amended by ASU 2015-14 which was issued on August&nbsp;12, 2015, Revenue From Contracts With Customers, which outlines a single
comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities
with reporting periods beginning after December&nbsp;15, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December&nbsp;15, 2016. The Company is
currently evaluating the impact, if any, of the adoption of this new standard. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In April 2015, the FASB issued ASU No 2015-03,
&#147;Simplifying the Presentation of Debt Issuance Costs&#148;, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. ASU 2015-03 was early adopted by the Company during
the fourth quarter of 2015 with retrospective application. The reclassification does not impact net income as previously reported or any prior amounts reported on the consolidated statements of comprehensive income, or the consolidated statements of
cash flows. The effect of the retrospective application of this change in accounting principle on the Company&#146;s consolidated balance sheets as of December&nbsp;31, 2014 resulted in a reduction of Deferred finance charges in the amount of
$1,521,543 with a corresponding decrease of $1,032,992 in Long-term debt and Total non current liabilities and a decrease of $488,551 in Current portion of long-term debt and Total current liabilities. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory to simplify the measurement of inventory using
first-in, first out (FIFO) or average cost method. According to this ASU an </FONT></P>
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entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and
transportation. This update is effective for public entities with reporting periods beginning after December&nbsp;15, 2016. Early adoption is permitted. Management believes that the implementation of this update will not have any material impact on
its financial statements and has not elected the early adoption. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In February 2016, the FASB issued ASU 2016-02, Leases (Topic
842). The standard amends the existing accounting standards for lease accounting and adds additional disclosures about leasing arrangements. The ASU requires lessees to recognize on the balance sheet the assets and liabilities for the rights and
obligations created by most leases, while lessor accounting remains largely unchanged. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application,
with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December&nbsp;15, 2018. Early adoption is permitted for all entities. The Company has not yet evaluated the impact,
if any, of the adoption of this new standard. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In March 2016, the FASB issued amendments concerning the effect of derivative
contract novations on existing hedge accounting relationships. As it relates to derivative instruments, novation refers to replacing one of the parties to a derivative instrument with a new party, which may occur for a variety of reasons such as:
financial institution mergers, intercompany transactions, an entity exiting a particular derivatives business or relationship, or because of laws or regulatory requirements. The amendments clarify that a change in the counterparty to a derivative
instrument that has been designated as the hedging instrument under the guidance for Derivatives and Hedging (Topic 815) does not, in and of itself, require dedesignation of that hedge accounting relationship provided that all other hedge accounting
criteria continue to be met. The amendments are effective for public entities for financial statements issued for fiscal years beginning after December&nbsp;15, 2016, and interim periods within those fiscal years. The amendments may be applied on
either a prospective basis or a modified retrospective basis and early application is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early
adoption. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of
the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December&nbsp;15, 2016, including interim periods within that year. The adoption of this guidance is not expected to have a
material impact on the Company&#146;s financial statements. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>3. Transactions with Related Parties </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Manager provides the vessels with a wide range of shipping services such as chartering, technical support and maintenance, insurance,
consulting, financial and accounting services, for a fixed daily fee of $440 per vessel operating under a voyage or time charter or $125 per vessel operating under a bareboat charter and a brokerage commission of 1.25% on freight, hire and demurrage
per vessel, as per the management agreement between the Manager and the Company. The Manager has subcontracted the technical management of some of the vessels to an affiliated ship-management company, Brave Maritime Corp. Inc. (&#147;Brave&#148;).
This company provides technical management to the Company&#146;s vessels for a fixed annual fee per vessel which is paid by the Manager. For the years ended December&nbsp;31, 2013, 2014 and 2015, total brokerage commissions of 1.25% amounted to
$1,482,764, $1,613,421 and $1,725,683, respectively, and are included in &#147;Voyage expenses&#151;related party&#148; in the consolidated statements of income. For the years ended December&nbsp;31, 2013, 2014 and 2015, the management fees were
$4,807,010, $5,501,675 and $6,452,145, respectively and are included in &#147;Management fees&#151;related party&#148; in the consolidated statements of income. In addition, the Manager arranges for supervision onboard the vessels, when required, by
superintendent engineers and when such visits exceed a period of five days in a twelve month period, an amount of $500 is charged for each additional day. For the years ended December&nbsp;31, 2013, 2014 and 2015, the superintendent fees amounted to
$151,000, $167,000 and $245,000, respectively, and are included in &#147;Vessels&#146; operating expenses&#151;related party&#148; in the consolidated statements of income. </FONT></P>
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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Manager also acts as a sales and purchase broker for the Company in exchange for a
commission fee equal to 1% of the gross sale or purchase price of vessels or companies. For the years ended December&nbsp;31, 2013, 2014 and 2015 commission fees relating to vessels purchased of $723,500, $984,355 and $1,925,563, respectively, were
incurred and capitalized to the cost of the vessels. For the year ended December&nbsp;31, 2014 an amount of $285,000 was recognized as commission expenses relating to the sale and leaseback of vessels and is included in the consolidated balance
sheets under the caption &#147;Deferred gain on sale and leaseback of vessels&#148;. For the year ended December&nbsp;31, 2015 an amount of $21,177 was recognized as commission expenses relating to the sale of vessels and is included in the
consolidated statements of income under the caption &#147;Net gain on sale of vessels&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition to management
services, the Company reimburses the Manager for compensation of its Chief Executive Officer, its Chief Financial Officer, its Internal Auditor, its Chief Technical Officer, its Finance Manager and its Deputy Chairman and Executive Director, which
reimbursements were in the amounts of $1,245,766, $1,317,237 and $1,077,698, for the years ended December&nbsp;31, 2013, 2014 and 2015, respectively, and are included in the consolidated statements of income under the caption &#147;General and
administrative expenses&#148;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The current account balance with the Manager at December&nbsp;31, 2014 and at
December&nbsp;31, 2015 was a liability of $4,941,896 and $9,188,852, respectively. The liability represents payments made by the Manager on behalf of the ship-owning companies. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company rents office space that is owned by an affiliated company of the Manager. Rental expense for the years ended
December&nbsp;31, 2013, 2014 and 2015 amounted to $78,070, $76,788 and $72,753, respectively, and is included in the consolidated statements of income under the caption &#147;General and administrative expenses&#148;. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In April 2012, the Company entered into time charter agreements for two of the Company&#146;s vessels with Emihar Petroleum Inc., a
company affiliated with members of the Vafias family incorporated in the Marshall Islands. Revenue from the related party amounted to $9,814,000 for each of the years ended December&nbsp;31, 2013, 2014 and 2015, respectively, and is included in the
consolidated statements of income under the caption &#147;Revenues&#151;related party&#148;. In accordance with the time charter agreements for the vessels&#146; operating expenses, the Company paid to the Manager amounts of $3,933,149, $3,932,352
and $3,932,042 for the years ended December&nbsp;31, 2013, 2014 and 2015, respectively, which are included in the consolidated statements of income under the caption &#147;Vessels&#146; operating expenses&#151;related party&#148;. The receivable
balance with Emihar as of December&nbsp;31, 2014 and 2015, was a receivable of $332,970 and $228,494, respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On
August&nbsp;22, 2012, the Company entered into separate memoranda of agreements with a company affiliated with members of the Vafias family to acquire four LPG carriers under construction which were scheduled to be delivered during the year 2015.
The aggregate purchase price of these vessels was $96,000,000. As provided by the memoranda of agreements, an advance payment of 20% of the aggregate purchase price was paid on September&nbsp;28, 2012. On July&nbsp;11, 2014, the acquisition of two
of the above LPG carriers was cancelled and on September&nbsp;30, 2014 the Company collected the full amount of the advances paid to the affiliated company with the capitalized interest, totaling to $10,044,799 (Note 5). The remaining two vessels,
&#147;Eco Dream&#148; and &#147;Eco Green&#148;, were delivered to the Company on August&nbsp;18, 2015 and on September&nbsp;25, 2015, respectively (Note 6). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On May&nbsp;26, 2014, the Company entered into an agreement with Brave for the supervision of the construction of eight of its vessels for a fixed fee of Euro 390,000&nbsp;per vessel. For the years ended
December&nbsp;31, 2014 and 2015, the supervision fees amounted to $984,204 and $1,726,265, respectively, and were capitalized to the cost of the respective vessels. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-14
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>4. Inventories </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bunkers</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,426,838</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,116,604</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lubricants</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,531,828</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,799,650</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,958,666</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,916,254</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>5. Advances for Vessels Under Construction and Acquisitions </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The amount shown in the accompanying consolidated balance sheet as of December&nbsp;31, 2014 of $88,965,085 mainly represents advance
payments to sellers for two LPG carriers under construction contracted in 2012 (see Note 3), advance payments to sellers for three LPG carriers under construction contracted in 2013, advance payments to ship-builders for four LPG carriers under
construction contracted in 2013, advance payments to ship-builders for six LPG carriers under construction contracted in 2014 and advance payments to sellers for one LPG carrier under construction contracted in 2014. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The amount shown in the accompanying consolidated balance sheet as of December&nbsp;31, 2015 of $44,031,882 mainly represents advance
payments to ship-builders for six LPG carriers under construction contracted in 2014. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the years ended December&nbsp;31,
2014 and 2015, the movement of the account, advances for vessels under construction and acquisitions was as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Balance, December&nbsp;31, 2013</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>70,577,435</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Advances for vessels under construction and acquisitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">124,973,343</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capitalized interest</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,113,297</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capitalized expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,805,342</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels delivered</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(101,459,533</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels cancelled (Note 3)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,044,799</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Balance, December&nbsp;31, 2014</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>88,965,085</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Advances for vessels under construction and acquisitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">148,318,231</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capitalized interest</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,822,443</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capitalized expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,085,534</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessels delivered</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(200,159,411</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Balance, December&nbsp;31, 2015</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>44,031,882</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-15
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>6. Vessels, net </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="63%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessel cost</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Accumulated<BR>Depreciation</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Net Book<BR>Value</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Balance, December&nbsp;31, 2013</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>849,452,594</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(172,429,692</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>677,022,902</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">101,459,533</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">101,459,533</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Disposals</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(39,075,007</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,925,771</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(27,149,236</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Impairment loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(16,449,131</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,280,384</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(6,168,747</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Depreciation for the year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(33,811,607</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(33,811,607</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Balance, December&nbsp;31, 2014</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>895,387,989</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(184,035,144</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>711,352,845</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">200,159,411</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">200,159,411</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Disposals</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,977,051</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,977,051</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Impairment loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(26,190,677</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17,951,690</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,238,987</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel held for sale</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(748,823</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(748,823</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Depreciation for the year</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(35,857,507</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(35,857,507</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Balance, December&nbsp;31, 2015</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1,066,630,849</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(201,940,961</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>864,689,888</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The additions in 2014 relate to the acquisition of vessels &#147;Eco Stream&#148;, &#147;Eco Chios&#148;,
&#147;Eco Elysium&#148;, &#147;Eco Invictus&#148; and &#147;Eco Corsair&#148;. In addition, on November&nbsp;14, 2014 and on December&nbsp;15, 2014, the Company entered into separate memoranda of agreement for the disposal of the vessels &#147;Gas
Premiership&#148; and &#147;Gas Cathar&#148;, respectively, to an unaffiliated third party for $28,500,000 and entered simultaneously into bareboat charter agreements to leaseback the vessels for periods of four years (Note 19). The vessels were
delivered to the new owners on November&nbsp;19, 2014 and on December&nbsp;19, 2014, respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">At December&nbsp;31, 2014,
the Company decided to seek to dispose of two of the oldest vessels of the fleet. As a result of this decision, the undiscounted net operating cash flows of each of these vessels did not exceed each vessel&#146;s carrying value and the Company
identified and recorded an impairment loss of $6,168,747 which is presented under the caption &#147;Impairment loss&#148; in the consolidated statements of income. On March&nbsp;12, 2015, the Company concluded two separate memoranda of agreement for
the disposal of the vessels described above, &#147;Gas Kaizen&#148; and &#147;Gas Crystal&#148;, to an unaffiliated third party for $2,054,156. The vessels were delivered to the new owners on April&nbsp;1, 2015 and April&nbsp;16, 2015, respectively.
No assets were held for sale as of December&nbsp;31, 2014. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The additions in 2015 relate to the acquisition of vessels
&#147;Eco Lucidity&#148;, &#147;Eco Enigma&#148;, &#147;Eco Royalty&#148;, &#147;Eco Loyalty&#148;, &#147;Eco Universe&#148;, &#147;Eco Galaxy&#148;, &#147;Eco Czar&#148;, &#147;Eco Dream&#148;, &#147;Eco Nemesis&#148; and &#147;Eco Green&#148;.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">At June&nbsp;30, 2015 and December&nbsp;31, 2015, the Company decided to seek to dispose of two of the oldest vessels of the
fleet. As a result of this decision, the undiscounted net operating cash flows of each of these vessels did not exceed each vessel&#146;s carrying value and the Company identified and recorded an impairment loss of $6,775,416 which is presented
under the caption &#147;Impairment loss&#148; in the consolidated statements of income. The accumulated depreciation of these vessels was written off and the vessels were recorded at their scrap value. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;20, 2015, the Company entered into a memorandum of agreement for the disposal of one of the above mentioned vessels, the
&#147;Gas Arctic&#148;, to an unaffiliated third party for $950,000. The vessel, including her inventories on board, was classified as vessel held for sale in the fourth quarter of 2015 and was delivered to her new owners on January&nbsp;21, 2016.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">At December&nbsp;31, 2015, the Company performed an impairment review of its remaining vessels, due to the prevailing
conditions in the shipping industry. As a result of the impairment review, undiscounted net operating </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-16
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
cash flows exceeded each vessel&#146;s carrying value with the exception of one vessel and therefore the Company identified and recorded an impairment loss of $1,463,571 which is presented under
the caption &#147;Impairment loss&#148; in the consolidated statements of income. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7. Deferred Finance Charges </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred finance charges amounting to $1,569,375 and $390,000 as of December&nbsp;31, 2014 and December&nbsp;31, 2015, respectively,
represent fees paid to the lenders for undrawn facilities, and are presented on the balance sheet under non-current assets. Gross deferred finance charges amounting to $5,959,350 and $6,343,300 as of December&nbsp;31, 2014 and December&nbsp;31,
2015, respectively, represent fees paid to the lenders for obtaining the related loans, and are presented on the balance sheet as a direct deduction from the carrying amount of the related loan and credit facility net of accumulated amortization.
For the years ended December&nbsp;31, 2013, 2014 and 2015, the amortization of deferred financing charges amounted to $425,933, $656,341 and $587,157, respectively, and is included in interest and finance costs in the consolidated statements of
income. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>8. Accrued Liabilities </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest on long-term debt</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,436,466</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,536,034</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Administrative expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">339,778</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">291,932</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vessel operating and voyage expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,126,783</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,774,973</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>3,903,027</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>5,602,939</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>9. Deferred Income </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The amounts shown in the accompanying consolidated balance sheets amounting to $7,064,756 and $5,423,533 represent time and bareboat charter revenues received in advance as of December&nbsp;31, 2014 and
as of December&nbsp;31, 2015, respectively. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>10. Customer Deposits </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">These amounts represent deposits received from charterers as guarantees and are comprised as follows: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;24, 2015 an amount of $1,820,700 was received from the bareboat charterer of Aframax tanker &#147;Spike&#148; which is equal to five-months hire. This
amount will be returned to the charterer at the end of the thirty two months bareboat charter. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On October&nbsp;12, 2015 an amount of $736,000 was received from the bareboat charterer of Product carrier &#147;Navig8 Faith&#148; which is equal to three-months hire.
This amount will be returned to the charterer at the end of the three-year bareboat charter. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-17
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>11. Long-term Debt </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Term Loans</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Original</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Amount</B></FONT></TD>

<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;
31,</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Movement in 2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;
31,</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Issue Date</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Maturity&nbsp;Date</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">Additions</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1">Repayments</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;5, 2005</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">September&nbsp;9,&nbsp;2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">100,067,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,816,882</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5,029,852</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,787,030</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">May&nbsp;17, 2006</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">May 30, 2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">79,850,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14,500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(14,500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;6, 2006</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 28, 2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,580,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,763,440</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(473,760</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,289,680</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;21, 2007</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;21,&nbsp;2017</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49,875,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,365,764</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4,869,014</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17,496,750</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;12, 2008</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">February 19, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">40,250,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,875,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19,375,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;30, 2008</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">November 4, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,240,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,606,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,939,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19,667,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">October&nbsp;9, 2008</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">October 9, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29,437,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,650,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(780,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,870,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">January&nbsp;30, 2009</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">July 15, 2016</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">45,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30,550,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3,400,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">27,150,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;14, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">April 14, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,400,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19,300,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,200,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17,100,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">February&nbsp;1, 2011</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">September 1, 2018</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49,400,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">37,850,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3,300,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">34,550,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">March&nbsp;1, 2011</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 20, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">43,250,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35,375,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32,375,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">September&nbsp;30,&nbsp;2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">45,212,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">38,896,767</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5,052,587</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,844,180</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">March&nbsp;24, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 30, 2021</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">50,225,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,040,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,925,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,520,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46,445,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;16, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">April 16, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,915,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,750,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25,665,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;12, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">October 2, 2020</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(880,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,120,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">June&nbsp;20, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">January 8, 2023</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,925,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,925,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,065,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19,860,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;20,&nbsp;2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">November&nbsp;16,&nbsp;2022</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67,200,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32,000,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">31,500,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;24,&nbsp;2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">December 14, 2022</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,400,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,400,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,400,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;4, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">September 3, 2021</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,750,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,750,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(406,250</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,343,750</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;29, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">July 7, 2023</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25,350,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25,350,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(528,125</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24,821,875</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>325,503,853</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>155,100,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(55,943,588</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>424,660,265</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current portion of long-term debt</FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">42,614,213</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75,546,625</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Long term debt</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">282,889,640</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">349,113,640</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total debt</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>325,503,853</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>424,660,265</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current portion of deferred finance charges</FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">488,551</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">618,174</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deferred finance charges non-current</FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,032,992</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,879,537</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total deferred finance charges</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1,521,543</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,497,711</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total debt</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">325,503,853</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">424,660,265</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Less: Total deferred finance charges</FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,521,543</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,497,711</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total debt, net of deferred finance charges</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>323,982,310</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>422,162,554</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Less: Current portion of long-term debt, net of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;current portion of deferred
finance charges</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>42,125,662</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>74,928,451</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Long term debt, net of deferred finance charges</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>281,856,648</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>347,234,103</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;20, 2013 the Company entered into a term loan with a bank institution to partially
finance the acquisition of four LPG carriers under construction, in an amount equal to (i)&nbsp;the lesser of $67,200,000 or 70% of the fair market value of the vessels subject to the Minimum Employment Condition being met at the delivery date of
each vessel or (ii)&nbsp;the lesser of $62,400,000 or 65% of the fair market value of the vessels if the Minimum Employment Condition will not be met at the delivery date of each vessel. The term loan will be drawn down in four tranches upon the
delivery of each vessel. The first and second tranche amounting to $16,000,000 each were drawn down on September&nbsp;14, 2015 and September&nbsp;30, 2015, respectively. As of December&nbsp;31, 2015, the remaining tranches had not been drawn down.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-18
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On March&nbsp;24, 2014 the Company entered into a term loan with a bank to partially finance
the acquisition of three LPG carriers under construction, named &#147;Eco Stream&#148;, &#147;Eco Chios&#148; and &#147;Eco Galaxy&#148;, respectively, by three of the Company&#146;s wholly owned subsidiaries. The term loan was drawn down in three
tranches upon the delivery of each vessel. The first and second tranche amounting to $17,150,000 each were drawn down on March&nbsp;31, 2014 and on June&nbsp;30, 2014, respectively, and the third tranche amounting to $15,925,000 was drawn down on
July&nbsp;31, 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On April&nbsp;14, 2014, the Company entered into a facility agreement with a bank to refinance the
existing term loan dated February&nbsp;18, 2009. The term loan is up to $20,400,000 and was drawn down in one tranche at the signing date of the facility agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On April&nbsp;16, 2014, the Company entered into a facility agreement with a bank to partially finance the acquisition of one LPG carrier on its delivery and to refinance the existing term loan dated
June&nbsp;25, 2009. The term loan was up to $30,000,000 and was drawn down in three tranches. The two tranches amounting to $14,250,000 were drawn down on April&nbsp;25, 2014 and the third tranche amounting to $15,750,000 was drawn down on
April&nbsp;21, 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On June&nbsp;12, 2014 the Company entered into a term loan with a bank to partially finance the
acquisition of one LPG carrier under construction, named &#147;Eco Invictus&#148;, by one of the Company&#146;s wholly owned subsidiary. The term loan, amounting to $13,000,000, was drawn down on October&nbsp;1, 2014 in one tranche. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On June&nbsp;20, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under
construction, named &#147;Eco Corsair&#148; and &#147;Eco Elysium&#148;, respectively, by two of the Company&#146;s wholly owned subsidiaries. The term loan amounting to $20,925,000 was drawn down on January&nbsp;8, 2015. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On July&nbsp;4, 2014, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under
construction on their delivery. The term loan is up to $22,750,000 and was drawn down in two tranches upon the delivery of each vessel. The first and second tranche amounting to $11,375,000 each were drawn down on August&nbsp;4, 2015 and on
September&nbsp;3, 2015, respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On July&nbsp;29, 2014, the Company entered into a term loan with a bank to partially
finance the acquisition of two LPG carriers under construction on their delivery. The term loan amounting to $25,350,000 was drawn down in one tranche on July&nbsp;7, 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On March&nbsp;27, 2015, the Company voluntary repaid the outstanding balance of the term loan dated May&nbsp;17, 2006, amounting to $13,500,000. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;24, 2015, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers
under construction on their delivery. The term loan amounting to $22,400,000 was drawn down in one tranche on December&nbsp;30, 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The above loans are generally repayable in quarterly or semi-annual installments and a balloon payment at maturity and are secured by first priority mortgages over the vessels involved, plus the
assignment of the vessels&#146; insurances, earnings and operating and retention accounts with the lenders, and the guarantee of ship-owning companies, as owners of the vessels. The term loans contain financial covenants requiring the Company to
ensure that: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the aggregate market value of the mortgaged vessels at all times exceeds a certain percentage of the amounts outstanding as defined in the term loans,
ranging from 125% to 130%, </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the leverage of the Company defined as Total Debt net of Cash should not exceed 80% of total market value adjusted assets,
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-19
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Interest Coverage Ratio of the Company defined as EBITDA to interest expense to be at all times greater than to 2.5:1,
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">at least a certain percentage of the Company is to always be owned by members of the Vafias family, </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Company should maintain on a monthly basis a cash balance of a proportionate amount of the next installment and relevant interest plus a minimum
aggregate cash balance of $5,146,877 in the earnings account with the relevant banks, </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">dividends paid by the borrower will not exceed 50% of the Company&#146;s free cash flow in any rolling 12 month period. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The interest rates on the outstanding loans as of December&nbsp;31, 2015 are based on Libor plus a margin which varies from 0.70% to
3.00%. The average interest rates (including the margin) on the above outstanding loans for the applicable periods were: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year
ended December&nbsp;31, 2013: 2.23% </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year ended December&nbsp;31, 2014: 2.28% </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Year ended December&nbsp;31, 2015: 2.67% </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Bank loan interest expense for the above loans for the years ended December&nbsp;31, 2013, 2014 and 2015 amounted to $7,997,247, $8,746,786 and $10,175,944, respectively. Of these amounts, for the years
ended December&nbsp;31, 2013, 2014 and 2015, the amounts of $819,296, $2,113,297 and $1,822,443, respectively, were capitalized as part of advances paid for vessels under construction. Interest expense, net of interest capitalized, is included in
interest and finance costs in the consolidated statements of income. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">At December&nbsp;31, 2015, the Company was in compliance
with all of its debt financial covenants. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The aggregate available unused amounts under these facilities at December&nbsp;31,
2015 were $33,600,000 and the Company is required to pay a quarterly commitment fee of 0.80%&nbsp;per annum of the unutilized portion of the line of credit. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The annual principal payments to be made, for the abovementioned loans, after December&nbsp;31, 2015 are as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:46pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75,546,625</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2017</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49,251,665</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2018</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">58,462,415</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2019</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29,887,415</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2020</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">105,420,660</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thereafter</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">106,091,485</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>424,660,265</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12. Derivatives and Fair Value Disclosures </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company uses interest rate swaps for the management of interest rate risk exposure. The interest rate swaps effectively convert a
portion of the Company&#146;s debt from a floating to a fixed rate. The Company is a party to seven floating-to-fixed interest rate swaps with various major financial institutions covering notional amounts aggregating approximately $92,182,741 at
December&nbsp;31, 2015 (2014: $48,692,694) pursuant to which it pays fixed rates ranging from 1.52% to 4.73% and receives floating rates based on the London Interbank Offered Rate (&#147;LIBOR&#148;) (approximately 0.38% at December&nbsp;31, 2015).
These agreements contain no leverage features </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-20
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
and have maturity dates ranging from March 2016 to September 2021. As of December&nbsp;31, 2015 five derivative contracts qualify for hedge accounting since their inception (2014: one derivative
contract). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On April&nbsp;10, 2014, the Company as a condition of its term loan dated September&nbsp;23, 2013, entered into an
amortizing interest rate swap agreement for a notional amount of $17,553,663. The agreement is effective from September&nbsp;30, 2015 and expires on September&nbsp;30, 2020; under this agreement the Company receives each quarter interest on the
notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 2.60%. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On
July&nbsp;6, 2015, the Company as a condition of its term loan dated September&nbsp;23, 2013, entered into an amortizing interest rate swap agreement for a notional amount of $17,553,663. The agreement is effective from September&nbsp;30, 2015 and
expires on September&nbsp;30, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.69%. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On September&nbsp;22, 2015, the Company as a condition of its term loan dated June&nbsp;12, 2014, entered into an amortizing interest
rate swap agreement for a notional amount of $12,120,000. The agreement is effective from October&nbsp;2, 2015 and expires on October&nbsp;2, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the
three month LIBOR rate and pays interest based on a fixed interest rate of 1.54%. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On October&nbsp;13, 2015, the Company as a
condition of its term loan dated July&nbsp;4, 2014, entered into two amortizing interest rate swap agreements for a notional amount of $11,171,875 each. The first agreement is effective from November&nbsp;4, 2015 and expires on August&nbsp;4, 2021
and the second agreement is effective from December&nbsp;3, 2015 and expires on September&nbsp;3, 2021; under these agreements the Company receives each quarter interest on the notional amounts based on the three month LIBOR rate and pays interest
based on a fixed interest rate of 1.52% and 1.55%, respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company enters into foreign currency forward contracts
in order to manage risks associated with fluctuations in foreign currencies. During 2014, the Company entered into a series of foreign currency forward contracts to hedge part of its exposure to fluctuations of its anticipated cash payments in
Japanese Yen relating to certain vessels under construction. Under the contracts the Company converted U.S. dollars to approximately JPY400 million of cash outflows in 2014 and to approximately JPY500 million of cash outflows in 2015. As of and for
the year ended December&nbsp;31, 2013, there were no such contracts. In addition, no such contracts were entered into during the year ended December&nbsp;31, 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following tables present information on the location and amounts of derivatives&#146; fair values reflected in the consolidated balance sheets and with respect to gains and losses on derivative
positions reflected in the consolidated statements of income or in the consolidated balance sheets, as a component of accumulated other comprehensive income/(loss). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Tabular disclosure of financial instruments is as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" ROWSPAN="3" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Derivatives designated as</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000;width:86pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>hedging instruments</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="3" ALIGN="center" STYLE="border-bottom:1px solid #000000">
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balance&nbsp;Sheet&nbsp;Location</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="14" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Asset<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Liability<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Asset<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Liability<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap<BR>Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non&nbsp;current&nbsp;assets&#151;Fair value of derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">127,555</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non&nbsp;current&nbsp;liabilities&#151;Fair value of derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">384,589</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">681,197</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total derivatives designated as hedging instruments</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>384,589</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>127,555</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>681,197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-21
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" ROWSPAN="3" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Derivatives not designated as</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000;width:99pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>hedging instruments</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="3" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Balance Sheet Location</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="14" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Asset<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Liability<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Asset<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Liability<BR>Derivatives</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Forward Currency Contract</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current&nbsp;liabilities&#151;Fair value of derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">583,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current liabilities&#151;Fair value of derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">297,656</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non&nbsp;current&nbsp;liabilities&#151;Fair value of derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,488,706</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total derivatives not designated as hedging instruments</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2,072,074</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>297,656</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The effect of derivative instruments on the consolidated statements of income for the years ended
December&nbsp;31, 2013, 2014 and 2015 is as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:171pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Derivatives not designated as hedging instruments</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000">
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Location&nbsp;of&nbsp;Gain/(Loss)&nbsp;Recognized</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year Ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap&#151;Reclassification from OCI</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67,849</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(49,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap&#151;Change in Fair Value</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,716,274</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,652,692</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,191,050</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap&#151;Realized loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2,811,593</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,857,362</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,243,359</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Foreign Currency Contract&#151;Change in Fair Value</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(583,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">583,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Foreign Currency Contract&#151;Realized loss</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(510,875</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(669,712</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total loss on derivatives</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(27,470</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(1,348,384</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(138,653</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR>
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:158pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Derivatives designated as hedging instruments</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000">
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Location&nbsp;of&nbsp;Loss&nbsp;Recognized</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year&nbsp;Ended&nbsp;December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap&#151;Loss reclassified from OCI (Effective portion)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Loss on derivatives</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(231,931</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total loss on derivatives</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(231,931</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The components of accumulated other comprehensive income/ (loss) included in the accompanying
consolidated balance sheets consist of unrealized gain / (loss) on cash flow hedges and are analyzed as follows: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Unrealized&nbsp;Gain/<BR>(Loss) on cash<BR>flow hedges</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Balance, January&nbsp;1, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18,378</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reclassification adjustment</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(67,849</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Balance, December&nbsp;31, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(49,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective portion of changes in fair value of interest swap contracts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(293,020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reclassification adjustment</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49,471</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Balance, December&nbsp;31, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(293,020</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective portion of changes in fair value of interest swap contracts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(100,268</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Balance, December&nbsp;31, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(393,288</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-22
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">During the year ended 2013 the gain transferred from accumulated other comprehensive
income/(loss) to the statement of income was $67,849 and during the year ended December&nbsp;31, 2014, the loss transferred from accumulated other comprehensive income/(loss) to the statement of income was $49,471. No transfer took place during the
year ended December&nbsp;31, 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Fair Value of Financial Instruments and Concentration of Credit Risk:
</I></B>Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents, restricted cash, receivables from related party, trade and other receivables, claims
receivable, payable to related party, trade accounts payable and accrued liabilities. The Company limits its credit risk with respect to accounts receivable by performing ongoing credit evaluations of its customers&#146; financial condition and
generally does not require collateral for its trade accounts receivable. The Company places its cash and cash equivalents, time deposits and other investments with high credit quality financial institutions. The Company performs periodic evaluations
of the relative credit standing of those financial institutions. The Company is exposed to credit risk in the event of non-performance by its counterparties to derivative instruments; however, the Company limits its exposure by transacting with
counterparties with high credit ratings. The carrying values of cash and cash equivalents, restricted cash, receivables from related party, trade and other receivables, claims receivable, payable to related party, trade accounts payable and accrued
liabilities are reasonable estimates of their fair value due to the short term nature of these financial instruments. Cash and cash equivalents and restricted cash are considered Level 1 items as they represent liquid assets with short-term
maturities. The fair value of long term bank loans is estimated based on current rates offered to the Company for similar debt of the same remaining maturities. Their carrying value approximates their fair market value due to their variable interest
rate, being LIBOR. LIBOR rates are observable at commonly quoted intervals for the full terms of the loans and hence floating rate loans are considered Level 2 items in accordance with the fair value hierarchy. Additionally, the Company considers
the creditworthiness of each counterparty when determining the fair value of the credit facilities. The Company&#146;s interest rate swap agreements are recorded at fair value. The fair value of the interest rate swaps is determined using a
discounted cash flow method based on market-based LIBOR swap yield curves. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swap and therefore are considered Level 2 items. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Fair Value Disclosures: </I></B>The Company has categorized assets and liabilities recorded at fair value based upon the fair value
hierarchy specified by the guidance. The levels of fair value hierarchy are as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Level 1: Quoted market prices in
active markets for identical assets or liabilities. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Level 2: Observable market based inputs or unobservable inputs that are
corroborated by market data. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Level 3: Unobservable inputs that are not corroborated by market data. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following table presents the fair values for assets and liabilities measured on a recurring basis categorized into a Level based upon
the lowest level of significant input to the valuations as of December&nbsp;31, 2014: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom">&nbsp;<FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value<BR>as of<BR>December&nbsp;31,<BR>2014</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value Measurements Using</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Quoted&nbsp;Prices<BR>in Active<BR>Markets for<BR>Identical<BR>Assets<BR>(Level 1)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Other<BR>Observable<BR>Inputs<BR>(Level 2)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Unobservable<BR>Inputs<BR>(Level 3)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liabilities:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Foreign Currency Contract</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(583,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(583,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,873,295</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,873,295</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(2,456,663</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(2,456,663</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-23
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following table presents the fair values for assets and liabilities measured on a
recurring basis categorized into a Level based upon the lowest level of significant input to the valuations as of December&nbsp;31, 2015: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value<BR>as of<BR>December&nbsp;31,<BR>2015</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value Measurements Using</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Quoted&nbsp;Prices<BR>in Active<BR>Markets for<BR>Identical<BR>Assets<BR>(Level 1)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Other<BR>Observable<BR>Inputs<BR>(Level 2)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Unobservable<BR>Inputs<BR>(Level 3)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Assets/(Liabilities):</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">127,555</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">127,555</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest Rate Swap Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(978,853</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(978,853</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(851,298</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(851,298</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following tables summarize the valuation of assets measured at fair value on a non-recurring basis as
of the valuation date. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value<BR>as of<BR>December&nbsp;31,<BR>2014</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value Measurements Using</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Quoted&nbsp;Prices<BR>in Active<BR>Markets for<BR>Identical<BR>Assets<BR>(Level 1)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Other<BR>Observable<BR>Inputs<BR>(Level 2)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Unobservable<BR>Inputs<BR>(Level 3)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B><BR>Impairment<BR>Loss</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Long-lived assets held and used</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,977,051</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,977,051</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(6,168,747</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1,977,051</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1,977,051</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(6,168,747</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a result of the impairment analysis performed for the year ended December&nbsp;31, 2014, two of the
Company&#146;s vessels, with a carrying amount of $8,145,798 were written down to their fair value as determined by the Company based on current demolition prices, resulting in an impairment charge of $6,168,747, which was included in the
accompanying consolidated statement of income under the caption &#147;Impairment loss&#148; for the year ended December&nbsp;31, 2014. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value<BR>as of<BR>December&nbsp;31,<BR>2015</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Fair Value Measurements Using</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Quoted&nbsp;Prices<BR>in Active<BR>Markets for<BR>Identical<BR>Assets<BR>(Level 1)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Other<BR>Observable<BR>Inputs<BR>(Level 2)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Significant<BR>Unobservable<BR>Inputs<BR>(Level 3)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B><BR>Impairment<BR>Loss</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Long-lived assets held and used</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,589,921</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,589,921</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,238,987</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7,589,921</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7,589,921</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;&nbsp;&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(8,238,987</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a result of the impairment analysis performed for the year ended December&nbsp;31, 2015, three of the
Company&#146;s vessels, with a carrying amount of $15,828,908 were written down to their fair value as determined by the Company based on current demolition prices obtained from independent third party shipbrokers, for two of the vessels and based
on vessel valuations for one of the vessels, obtained from independent third party shipbrokers as of December&nbsp;31, 2015, which are mainly based on recent sales and purchase transactions of similar vessels, resulting in an impairment charge of
$8,238,987. This impairment charge was included in the accompanying consolidated statement of income under the caption &#147;Impairment loss&#148; for the year ended December&nbsp;31, 2015. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-24
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>13. Common Stock and Additional Paid-in Capital </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The amounts shown in the accompanying consolidated balance sheets as additional paid-in capital, represent payments made by the
stockholders for the acquisitions of the Company&#146;s vessels, or investments in the Company&#146;s common stock. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On
March&nbsp;22, 2010, the Company&#146;s Board of Directors adopted a new stock repurchase plan for up to $15,000,000 to be used for repurchasing the Company&#146;s common shares. For the year ended December&nbsp;31, 2010, the Company completed the
repurchase of 1,205,229 shares paying an average price per share of $5.21. These shares were cancelled and removed from the Company&#146;s capital stock. During the year ended December&nbsp;31, 2011, the Company completed the repurchase of
additional 551,646 shares paying an average price per share of $4.05. These shares are held as treasury stock by the Company. No shares were repurchased during the years ended December&nbsp;31, 2012 and 2013. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On April&nbsp;30, 2013, the Company completed a follow-on public offering of 11,500,000 shares of common stock, par value of $0.01, for
$10.00 per share. The gross proceeds from the offering amounted to $115,000,000, while the net proceeds after the underwriters&#146; discounts and commissions and other related expenses amounted to $109,119,029. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;14, 2014, the Company completed an underwritten registered offering of 3,398,558 shares of common stock, par value of
$0.01, for $9.71 per share. The gross proceeds from the offering amounted to $32,999,998, while the net proceeds after the underwriters&#146; discounts and commissions and other related expenses amounted to $31,937,044. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On May&nbsp;7, 2014, the Company completed an underwritten registered offering of 4,476,195 shares of common stock, par value of $0.01,
for $10.50 per share. The gross proceeds from the offering amounted to $47,000,047, while the net proceeds after the underwriters&#146; discounts and commissions and other related expenses amounted to $46,294,133. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On August&nbsp;12, 2014, the Company completed an underwritten registered offering of 3,500,000 shares of common stock, par value of
$0.01, for $10.00 per share. The gross proceeds from the offering amounted to $35,000,000, while the net proceeds after the underwriters&#146; discounts and commissions and other related expenses amounted to $34,071,501. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;26, 2014, the Company&#146;s Board of Directors adopted a new stock repurchase plan for up to $10,000,000 to be used for
repurchasing the Company&#146;s common shares. For the year ended December&nbsp;31, 2014, the Company completed the repurchase of 843,022 shares paying an average price per share of $6.30. These shares are held as treasury stock by the Company.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;26, 2015, the Company&#146;s Board of Directors approved the extension of the existing stock repurchase plan
for an additional amount of $20,000,000 to be used for repurchasing the Company&#146;s common shares. For the year ended December&nbsp;31, 2015, the Company completed the repurchase of 2,372,097 shares paying an average price per share of $5.46.
These shares are held as treasury stock by the Company. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>14. Equity Compensation Plan </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">During 2007, the Company&#146;s board of directors has adopted an Equity Compensation Plan (&#147;the Plan&#148;), under which the
Company&#146;s employees, directors or other persons or entities providing significant services to the Company or its subsidiaries are eligible to receive stock-based awards including restricted stock, restricted stock units, unrestricted stock,
bonus stock, performance stock and stock appreciation rights. The Plan is administered by the Compensation Committee of the Company&#146;s board of directors and the aggregate number of shares of common stock reserved under this plan cannot exceed
10% of the number of shares of Company&#146;s common stock </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-25
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
issued and outstanding at the time any award is granted. The Company&#146;s Board of Directors may terminate the Plan at any time. As of December&nbsp;31, 2015, a total of 555,479 restricted
shares had been granted under the Plan since the first grant in the third quarter of 2007. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;22, 2012, the
Company granted 74,761 non-vested restricted shares to the Company&#146;s CEO, CFO, Executive and non-executive members of Board of Directors. The fair value of each share granted was $7.26 which is equal to the market value of the Company&#146;s
common stock on that day. The restricted shares vested on September&nbsp;30, 2014. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;20, 2014, the Company
granted 230,713 of non-vested restricted shares to the Company&#146;s CEO and non-executive members of Board of Directors of the Company. The fair value of each share granted was $7.58 which is equal to the market value of the Company&#146;s common
stock on that day. The restricted shares vest over 3 years from the grant date, (115,357 restricted shares on November&nbsp;20, 2015, 57,678 restricted shares on November&nbsp;20, 2016 and 57,678 restricted shares on November&nbsp;20, 2017).
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All unvested restricted shares are conditional upon the option holder&#146;s continued service as an employee of the Company,
or as a director until the applicable vesting date. Until the forfeiture of any restricted shares, the grantee has the right to vote such restricted shares, to receive and retain all regular cash dividends paid on such restricted shares and to
exercise all other rights provided that the Company will retain custody of all distributions other than regular cash dividends made or declared with respect to the restricted shares. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company pays dividends on all restricted shares regardless of whether they have vested and there is no obligation of the employee to
return the dividend when employment ceases. The Company did not pay any dividends in the years ended December&nbsp;31, 2013, 2014 and 2015. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Company estimates the forfeitures of restricted shares to be immaterial. The Company will, however, re-evaluate the reasonableness of its assumption at each reporting period. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management has selected the accelerated method allowed by the guidance with respect to recognizing stock based compensation expense for
restricted share awards with graded vesting because it considers this method to better match expense with benefits received. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates
until non-employees complete the service. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The stock based compensation expense for the vested and non-vested shares for the
years ended December&nbsp;31, 2013, 2014 and 2015 amounted to $292,628, $357,967 and $1,140,084, respectively, and is included in the consolidated statements of income under the caption &#147;General and administrative expenses&#148;. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A summary of the status of the Company&#146;s non-vested restricted shares as of December&nbsp;31, 2015, is presented below: </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="17%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="17%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number&nbsp;of<BR>restricted&nbsp;shares</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Weighted&nbsp;average&nbsp;grant<BR>date fair value per<BR>non-vested share</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non-vested, January 1, 2015</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">230,713</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vested</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">115,357</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Forfeited</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Non-vested, December 31, 2015</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">115,356</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The total fair value of shares vested during the years ended December&nbsp;31, 2014 and 2015 was $681,073
and $441,815, respectively, based on the closing share price at each vesting date. No shares vested during the year </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-26
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
ended December&nbsp;31, 2013. The remaining unrecognized compensation cost amounting to $469,623 as of December&nbsp;31, 2015, is expected to be recognized over the remaining period of 1.89
years, according to the contractual terms of those non-vested share awards. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>15. Earnings per share </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common
shares outstanding during the period. Diluted earnings per share give effect to all potentially dilutive securities. All of the Company&#146;s shares (including non-vested restricted stock issued under the Plan) participate equally in dividend
distributions and in undistributed earnings. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company applies the two-class method of computing earnings per share (EPS)
as the unvested share-based payment awards that contain rights to receive non forfeitable dividends are participating securities. Dividends declared during the period for non-vested restricted stock as well as undistributed earnings allocated to
non-vested stock are deducted from net income for the purpose of the computation of basic earnings per share in accordance with the two-class method. The denominator of the basic earnings per common share excludes any non-vested shares as such they
are not considered outstanding until the time-based vesting restriction has elapsed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of calculating diluted
earnings per share, dividends declared during the period for non-vested restricted stock and undistributed earnings allocated to non-vested stock are not deducted from net income as reported since such calculation assumes non-vested restricted stock
is fully vested from the grant date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company calculates basic and diluted earnings per share as follows: </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year Ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Numerator</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,217,193</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,685,826</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,566,678</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Less: Undistributed earnings allocated to non-vested shares</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(55,958</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(26,357</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(13,457</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net income attributable to common shareholders, basic</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,161,235</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,659,469</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,553,221</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Denominator</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Weighted average number of shares outstanding, basic and diluted</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,271,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">39,305,644</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,315,127</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Earnings per share, basic and diluted</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.06</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company excluded the dilutive effect of 115,356 (2014: 230,713, 2013: 74,761) non-vested share awards
in calculating dilutive EPS for its common shares as of December&nbsp;31, 2015, as they were anti-dilutive. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>16. Voyage Expenses and Vessel
Operating Expenses </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The amounts in the accompanying consolidated statements of income are analyzed as follows: </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:58pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Voyage Expenses</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Port expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,067,494</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,278,961</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,960,574</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bunkers</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,347,130</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,553,318</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,566,490</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Commissions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,244,939</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,725,645</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,112,177</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other voyage expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">643,067</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">529,587</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">936,297</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>14,302,630</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>14,087,511</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17,575,538</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-27
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:97pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Vessels&#146; Operating Expenses</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2013</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Crew wages and related costs</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22,138,595</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">26,378,730</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">31,391,419</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Insurance</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,667,915</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,028,142</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,415,028</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Repairs and maintenance</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,243,133</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,194,476</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,091,916</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Spares and consumable stores</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,757,455</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,120,974</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,978,592</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Miscellaneous expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,716,455</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,713,014</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,777,670</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>36,523,553</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>45,435,336</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>50,654,625</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17. Income Taxes </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under the laws of the countries of the companies&#146; incorporation and/or vessels&#146; registration, the companies are not subject to tax on international shipping income, however, they are subject to
registration and tonnage taxes, which have been included in Vessel operating expenses in the consolidated statements of income. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the Internal Revenue Code of the United States (the &#147;Code&#148;), U.S. source income from the international operations
of ships is generally exempt from U.S. tax if the Company operating the ships meets certain requirements. Among other things, in order to qualify for this exemption, the Company operating the ships must be incorporated in a country which grants an
equivalent exemption from income taxes to U.S. corporations. All the Company&#146;s ship-operating subsidiaries satisfy these initial criteria. In addition, these companies must be more than 50% owned by individuals who are residents, as defined, in
the country of incorporation or another foreign country that grants an equivalent exemption to U.S. corporations. These companies also currently satisfy the more than 50% beneficial ownership requirement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, the management of the Company believes that by virtue of a special rule applicable to situations where the ship-operating
companies are beneficially owned by a publicly traded company like the Company, the more than 50% beneficial ownership requirement can also be satisfied based on the trading volume and the anticipated widely-held ownership of the Company&#146;s
shares, but no assurance can be given that this will remain so in the future, since continued compliance with this rule is subject to factors outside the Company&#146;s control. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>18. Commitments and Contingencies </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">From time to time the Company expects to be subject to legal proceedings and claims in the ordinary course of its business, principally personal injury
and property casualty claims. Such claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. On August&nbsp;5, 2015, our Aframax tanker &#147;Spike&#148; was arrested. This action related to
security sought in connection with an arbitration proceeding involving a vessel not in the Company&#146;s fleet that the applicant claims is under common control with the MT &#147;Spike&#148;. On August&nbsp;20, 2015, the Company in order to secure
the vessel&#146;s release, lodged to the court a bank guarantee amounting to $9,837,000. As of December&nbsp;31, 2015, this amount was in a restricted account and is presented under current restricted cash in the consolidated balance sheet. The
Company believes that the outcome of this case will not have a material effect on its operations and financial position and will possibly result in the release of the bank guarantee and an equal increase in the cash flows from investing activities.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">During 2014, the Company has entered into separate agreements to acquire six LPG carriers which are currently under construction, and are described in
Notes 3 and 5. The Company has future outstanding commitments for installment payments for these agreements as follows: </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:44pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>December&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2016</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">62,365,151</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2017</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">145,824,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>208,189,151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-28
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Future minimum contractual charter revenues, gross of commissions, based on vessels committed to non-cancellable, long-term time and bareboat charter
contracts as of December&nbsp;31, 2015, amount to $82,976,254 during 2016, $41,053,799 during 2017, $24,228,368 during 2018, $19,432,253 during 2019 and $17,677,068 during 2020. These amounts do not include any assumed off-hire. Of these amounts,
$7,412,400 for the year ending December&nbsp;31, 2016 and $2,023,500 for the year ending December&nbsp;31, 2017 relate to time charter agreements with Emihar Petroleum Inc. as discussed in Note&nbsp;3. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>19. Sale and Leaseback of Vessels </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In November and December 2014, the Company sold the vessels Gas Premiership and Gas Cathar and realized a total gain of $780,695. The Company entered into bareboat charter agreements to leaseback the
vessels for a period of four years. The charter back agreements are accounted for as operating leases and the gain on the sale was deferred and is being amortized to income over the four-year lease period. For the years ended December&nbsp;31, 2014
and 2015, the amortization amounted to $4,954 and $195,040, respectively, and is included in Charter hire expenses in the consolidated statements of income. Lease payments relating to the bareboat charters of the vessels amounted to $325,758 and
$4,320,000 for the years ended December&nbsp;31, 2014 and 2015, and are included in Charter hire expenses in the consolidated statements of income. Future lease payments as of December&nbsp;31, 2015, until the expiry of the charter back agreements,
amount to $4,320,000 during 2016, $4,320,000 during 2017 and $4,008,000 during 2018. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>20. Subsequent Events </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;5, 2016, the Company paid the delivery installment amounting to $12,472,151 and took delivery of the vessel &#147;Eco Nical&#148;.
</FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;16, 2016, the committed third tranche of the facility agreement dated December&nbsp;20, 2013 amounting to $15,600,000 was drawn down.
</FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;24, 2016, the Company entered into an agreement with Brave for the supervision of the construction of four of its vessels for a fixed fee of Euro
490,000 ($539,343 based upon the EUR/USD exchange rate of 1.1007)&nbsp;per vessel. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On March&nbsp;7, 2016 the Company entered into a term sheet with a bank to partially finance the acquisition of two LPG carriers on their delivery. The aggregate term
loan is up to $76,020,000 and will be drawn down in two tranches upon the delivery of each vessel. The total facility will be repayable, with the first installment commencing three months after the drawdown, in thirty two consecutive quarterly
installments plus a balloon payment payable together with the last installment. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On March&nbsp;9, 2016 the Company signed a commitment letter with a bank to partially finance the acquisition of two LPG carriers on their delivery. The aggregate
committed term loan is up to $74,480,000 and will be drawn down in two tranches upon the delivery of each vessel. The total facility will be repayable, with the first installment commencing three months after the drawdown, in thirty two consecutive
quarterly installments plus a balloon payment payable together with the last installment. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">On March 29, 2016, the Company paid to ship-builder an installment of $10,416,000 for two LPG carriers under construction contracted in 2014. </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">From the beginning of 2016 and up to April&nbsp;1, 2016, the Company completed the repurchase of 644,178 shares of common stock paying an average price per share of
$3.09. These shares are held as treasury stock by the Company. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-29
</FONT></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8
<SEQUENCE>2
<FILENAME>d170255dex8.htm
<DESCRIPTION>EX-8
<TEXT>
<HTML><HEAD>
<TITLE>EX-8</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 8 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><U>Subsidiaries </U></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:33pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Company</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:87pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Country of Incorporation</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ADMIRED ASSET INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARABIAN OIL SERVICES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARACRUZ TRADING LTD.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">AURORA INVESTMENTS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">BAHLA BEAUTY INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">BARONESS HOLDINGS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CANNES VIEW INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CALABASAS INDUSTRIES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CALIFORNIA GASES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CARINTHIA INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CHIOS LEGACY INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CLEAN POWER INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">COLORADO OIL AND GAS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">DAYTONA INDUSTRIES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">EAST PROPANE INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">EASTERN EXPLORATION INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ECOBUTANE INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ECOGAS TRADING INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ECOPROPANE INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ECOVCM INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ECSTASEA INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">EMPIRE SPIRIT LTD.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">EMPRESS ENTERPRISES LTD</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ENERGETIC PENINSULA LIMITED</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR></TABLE>

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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">EVOLUTION CRUDE INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">FIGHTER GAS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">FINANCIAL POWER INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">GASTECH INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">GENEVE BUTANE INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">GOLDEN SHADOW INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ICELAND LIMITED</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Malta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">INTERNATIONAL GASES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ITALIA TRADES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">JAPANESE LEASING SCHEMES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">JUNGLE INVESTMENT LIMITED</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Malta</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">K INVESTMENTS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">KAIZEN INDUSTRIES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">KING OF HEARTS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">LUCKYBOY INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">MANAMA PRIDE INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">MATRIX GAS TRADING LTD.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">MR. ROI INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">NORTHERN CAPITAL HOLDING INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">NORTHERN YIELD SHIPPING LIMITED</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cyprus</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">OCTOPUS GAS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">OXFORDGAS LTD.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">PELORUS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">PETCHEM TRADING INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">RADIANT ENTERPRISES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">REVOLUTION INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">RISING SUN INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SANTA BARBARA INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SANTA MONICA INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SEMICHLAUS EXPORTS LTD.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Malta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SENIOR INVESTMENTS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SIKOUSIS LEGACY INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SOLEIL TRUST INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SOUND EFFEX INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SPACEGAS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">STEALTHGAS INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">STEAM POWER INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">STUDIO CITY INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">TANKPUNK, INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR></TABLE>

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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>

<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">TATOOSH BEAUTY INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Liberia</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">TRIATHLON INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">VENTSPILS GASES LTD.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Malta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">WOLVERINES INC.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Marshall Islands</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>d170255dex121.htm
<DESCRIPTION>EX-12.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-12.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 12.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CERTIFICATIONS </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">I, Harry N. Vafias, certify that: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">I have reviewed this annual report on Form 20-F of StealthGas Inc.; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial
condition, results of operations and cash flows of the company as of, and for, the periods presented in this annual report; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15 (e)&nbsp;and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material
information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">c.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">evaluated the effectiveness of the Company&#146;s disclosure controls and procedures and presented in this annual report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">d.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">disclosed in this annual report any change in the Company&#146;s internal control over financial reporting that occurred during the period covered by the annual report
that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal control over financial reporting; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
Company&#146;s auditors and the audit committee of the Company&#146;s board of directors (or persons performing the equivalent function): </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely
affect the Company&#146;s ability to record, process, summarize and report financial information; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s internal control over financial
reporting. </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: April&nbsp;22, 2016</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s Harry N. Vafias</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Harry N. Vafias</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>4
<FILENAME>d170255dex122.htm
<DESCRIPTION>EX-12.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-12.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 12.2 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CERTIFICATIONS </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">I, Harry N. Vafias, certify that: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">I have reviewed this annual report on Form 20-F of StealthGas Inc.; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial
condition, results of operations and cash flows of the company as of, and for, the periods presented in this annual report; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material
information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">c.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">evaluated the effectiveness of the Company&#146;s disclosure controls and procedures and presented in this annual report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">d.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">disclosed in this annual report any change in the Company&#146;s internal control over financial reporting that occurred during the period covered by the annual report
that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal control over financial reporting; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company&#146;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
Company&#146;s auditors and the audit committee of the Company&#146;s board of directors (or persons performing the equivalent function): </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely
affect the Company&#146;s ability to record, process, summarize and report financial information; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s internal control over financial
reporting. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: April&nbsp;22, 2016 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s Harry N. Vafias</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Harry N. Vafias</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>5
<FILENAME>d170255dex131.htm
<DESCRIPTION>EX-13.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-13.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 13.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CERTIFICATION PURSUANT TO </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>18 U.S.C. SECTION 1350, </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AS ADOPTED PURSUANT TO </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In connection with the
Annual Report on Form 20-F of StealthGas Inc. (the &#147;Company&#148;) for the fiscal year ended December&nbsp;31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the &#147;Report&#148;), the undersigned officer of the
Company hereby certifies to the undersigned&#146;s knowledge, pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section&nbsp;1350), that: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated: April&nbsp;22, 2016 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s Harry N. Vafias</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Harry N. Vafias</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">President and Chief Executive Officer</FONT></TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>6
<FILENAME>d170255dex132.htm
<DESCRIPTION>EX-13.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-13.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 13.2 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CERTIFICATION PURSUANT TO </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>18 U.S.C. SECTION 1350, </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AS ADOPTED PURSUANT TO </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In connection with the
Annual Report on Form 20-F of StealthGas Inc. (the &#147;Company&#148;) for the fiscal year ended December&nbsp;31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the &#147;Report&#148;), the undersigned officer of the
Company hereby certifies to the undersigned&#146;s knowledge, pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section&nbsp;1350), that: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: April&nbsp;22, 2016 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s Harry N. Vafias</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Harry N. Vafias</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>7
<FILENAME>d170255dex151.htm
<DESCRIPTION>EX-15.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-15.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 15.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">We consent to the incorporation
by reference in Registration Statements Nos. 333-189971 and 333-143804 on Form F-3 and Nos. 333-144240 and 333-207168 on Form S-8 of our reports dated April&nbsp;22, 2016, relating to the consolidated financial statements of StealthGas Inc. and
subsidiaries (the &#147;Company&#148;), and the effectiveness of the Company&#146;s internal control over financial reporting, appearing in this Annual Report on Form 20-F of the Company for the year ended December&nbsp;31, 2015. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Deloitte Hadjipavlou Sofianos&nbsp;&amp; Cambanis S.A. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Athens, Greece </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;22, 2016 </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>8
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<DESCRIPTION>XBRL INSTANCE DOCUMENT
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     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;1.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Basis of Presentation and General Information &lt;/b&gt;&lt;/td&gt;
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   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The accompanying consolidated financial statements include the accounts of StealthGas Inc. and its wholly owned subsidiaries (collectively, the &amp;#x201c;Company&amp;#x201d;) which, as of December&amp;nbsp;31, 2015 owned a fleet of forty nine liquefied petroleum gas (LPG) carriers, three medium range (M.R.) type product carriers and one Aframax tanker providing worldwide marine transportation services under long, medium or short-term charters. StealthGas Inc. was formed under the laws of Marshall Islands on December&amp;nbsp;22, 2004.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company&amp;#x2019;s vessels are managed by Stealth Maritime Corporation S.A. (the &amp;#x201c;Manager&amp;#x201d;), a related party. The Manager is a company incorporated in Liberia and registered in Greece on May&amp;nbsp;17, 1999 under the provisions of law 89/1967, 378/1968 and article&amp;nbsp;25 of law 27/75 as amended by article&amp;nbsp;4 of law 2234/94. (See Note&amp;nbsp;3).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;During 2013, 2014 and 2015, the following charterers individually accounted for 10% or more of the Company&amp;#x2019;s revenues as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

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       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt;
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       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
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       &lt;td style=&quot;width: 61%; font-size: 10pt&quot;&gt;A &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;13&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;%&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;13&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;%&lt;/td&gt;
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       &lt;td style=&quot;font-size: 10pt&quot;&gt;B &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;11&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;%&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
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      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Charterer&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt&quot;&gt;A &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;13&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;%&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;13&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;%&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;B &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;11&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;%&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c40_From1Jan2014To31Dec2014_ChartererAMember" decimals="2">0.13</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c41_From1Jan2015To31Dec2015_ChartererAMember" decimals="2">0.13</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c42_From1Jan2013To31Dec2013_ChartererBMember" decimals="2">0.11</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Significant Accounting Policies &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Principles of Consolidation:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#x201c;US GAAP&amp;#x201d;) and include the accounts of StealthGas Inc. and its wholly owned subsidiaries. All inter-company balances and transactions have been eliminated upon consolidation.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Use of Estimates:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The preparation of consolidated financial statements in conformity with US&amp;nbsp;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Other Comprehensive Income/(Loss):&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company follows the provisions of guidance regarding reporting comprehensive income which requires separate presentation of certain transactions, such as unrealized gains and losses from effective portion of cash flow hedges, which are recorded directly as components of stockholders&amp;#x2019; equity.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Foreign Currency Translation:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The functional currency of the Company is the U.S.&amp;nbsp;Dollar because the Company&amp;#x2019;s vessels operate in international shipping markets, which utilize the U.S.&amp;nbsp;Dollar as the functional currency. The accounting books of the Company are maintained in U.S.&amp;nbsp;Dollars. Transactions involving other currencies during the year are converted into U.S.&amp;nbsp;Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated to reflect the period end exchange rates. Resulting gains or losses are separately reflected in the accompanying consolidated statements of income.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Cash and Cash Equivalents:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash equivalents.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Restricted Cash:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Restricted cash mainly reflects deposits with certain banks that can only be used to pay the current loan installments or which are required to be maintained as a certain minimum cash balance per mortgaged vessel or cash held in restricted bank account for guarantees issued by the bank on the Company&amp;#x2019;s behalf. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Trade Receivables:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The amount shown as trade receivables includes estimated recoveries from charterers for hire, freight and demurrage billings, net of allowance for doubtful accounts. At each balance sheet date, all potentially un-collectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision for doubtful accounts was required for any of the periods presented.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Claims Receivable:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Claims receivable are recorded on the accrual basis and represent the claimable expenses, net of deductibles, incurred through each balance sheet date, for which recovery from insurance companies is probable and claim is not subject to litigation. Any remaining costs to complete the claims are included in accrued liabilities.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Inventories:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Inventories consist of bunkers (for vessels under voyage charter) and lubricants. The cost is determined by the first-in, first-out method. The Company considers victualling and stores as being consumed when purchased and, therefore, such costs are expensed when incurred.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Advances for vessels under construction:&lt;/i&gt;&lt;/b&gt; This represents amounts expended by the Company in accordance with the terms of the construction contracts for vessels as well as other expenses in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are capitalized.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Vessels Acquisitions:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Vessels are stated at cost, which consists of the contract price less discounts and any material expenses incurred upon acquisition (initial repairs, improvements, acquisition and expenditures made to prepare the vessel for its initial voyage). Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels, or otherwise are charged to expenses as incurred. The Company records all identified tangible and intangible assets associated with the acquisition of a vessel or liabilities at fair value. Where vessels are acquired with existing time charters, the Company allocates the purchase price to the time charters based on the present value (using an interest rate which reflects the risks associated with the acquired charters) of the difference between (i)&amp;nbsp;the contractual amounts to be paid pursuant to the charter terms and (ii)&amp;nbsp;management&amp;#x2019;s estimate of the fair market charter rate, measured over a period equal to the remaining term of the charter. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to revenues over the remaining term of the charter.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Impairment or Disposal of Long-lived Assets:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company follows the Accounting Standards Codification (&amp;#x201c;ASC&amp;#x201d;) Subtopic 360-10, &amp;#x201c;Property, Plant and Equipment&amp;#x201d; (&amp;#x201c;ASC 360-10&amp;#x201d;), which requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts. If indicators of impairment are present, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets.&amp;nbsp;If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value and the difference is recorded as an impairment loss in the consolidated statements of income.&amp;nbsp;Various factors including anticipated future charter rates, estimated scrap values, future dry-docking costs and estimated vessel operating costs are included in this analysis. These factors are based on historical trends as well as future expectations. Undiscounted cashflows are determined by considering the revenues from existing charters for those vessels that have long term employment and when there is no charter in place the estimates based on historical average rates with an annual increase of 1%. The Company also assumes an average annual inflation rate of 1.50% for operating expenses. No impairment loss was identified or recorded for the year ended December 31, 2013. An impairment loss was identified and recorded for the years ended December 31, 2014 and 2015 (Note 6).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Vessels&amp;#x2019; Depreciation:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The cost of each of the Company&amp;#x2019;s vessels is depreciated on a straight-line basis over the vessel&amp;#x2019;s remaining economic useful life, after considering the estimated residual value. Management estimates the useful life of each of the Company&amp;#x2019;s LPG carriers to be 30 years and product and aframax tankers, to be 25&amp;nbsp;years, from the date of their construction.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0; text-indent: 30pt&quot;&gt;&lt;b&gt;&lt;i&gt;Assets Held for Sale:&amp;nbsp;&lt;/i&gt;&lt;/b&gt;It is the Company&amp;#x2019;s policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies vessels as being held for sale when the following criteria are met: (i)&amp;nbsp;management possessing the necessary authority has committed to a plan to sell the vessels, (ii)&amp;nbsp;the vessels are available for immediate sale in their present condition, (iii)&amp;nbsp;an active program to find a buyer and other actions required to complete the plan to sell the vessels have been initiated, (iv)&amp;nbsp;the sale of the vessels is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year and (v)&amp;nbsp;the vessels are being actively marketed for sale at a price that is reasonable in relation to their current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. Furthermore, in the period a vessel meets the held for sale criteria in accordance with ASC 360-10, a loss is recognized for any reduction of the vessel&amp;#x2019;s carrying amount to its fair value less cost to sell. No assets were held for sale as of December&amp;nbsp;31, 2014. Concerning assets held for sale as of December 31, 2015, refer to Note 6.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Segment Reporting:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Accounting for Special Survey and Dry-docking Costs:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Special survey and dry-docking costs and all non-capitalizable repair and maintenance expenses are expensed in the period incurred.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Deferred Finance Charges:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Fees incurred for obtaining new loans or refinancing existing ones are deferred and amortized to interest expense over the life of the related debt using the effective interest method. The unamortized deferred financing charges are presented as a direct deduction from the carrying amount of the related loan and credit facility in the consolidated balance sheet. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing is made. Deferred financing costs relating to undrawn facilities are presented under non-current assets in the consolidated balance sheet.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Accounting for Revenue and Related Expenses:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using either voyage charters, where a contract is made in the spot market for the use of a vessel for a specific voyage for a specified charter rate, or time and bareboat charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily or monthly charter hire rate payable monthly in advance. If a charter agreement exists and the price is fixed, service is provided and collection of the related revenue is reasonably assured, revenue is recognized as it is earned ratably on a straight-line basis over the duration of the period of each voyage or period charter. A voyage is deemed to commence upon the completion of discharge of the vessel&amp;#x2019;s previous cargo and is deemed to end upon the completion of discharge of the current cargo, but the Company does not begin recognizing revenue until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port for its next voyage. Demurrage income represents payments by a charterer to a vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized ratably as earned during the related voyage charter&amp;#x2019;s duration period. Deferred income includes cash received prior to the balance sheet date and is related to revenue earned after such date.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Voyage expenses comprise commissions, bunkers and port expenses and are unique to a particular charter. Commissions in all cases are paid by the Company and are recognized on a pro-rata basis. All other voyage expenses are paid by the charterer under time charter arrangements or by the Company under voyage charter arrangements and are recognized as incurred.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&amp;nbsp;Vessel operating expenses comprise all expenses relating to the operation of the vessel, including crewing, repairs and maintenance, insurance, stores, lubricants and miscellaneous expenses. Vessel operating expenses are paid by the Company and are accounted for on an accrual basis.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating expenses, dry-docking expenses and risk of operation.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Leasing:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Leases are classified as capital leases if they meet at least one of the following criteria: (i) the leased asset automatically transfers title at the end of the lease term; (ii) the lease contains a bargain purchase option; (iii) the lease term equals or exceeds 75% of the remaining estimated economic life of the leased asset; (iv) or the present value of the minimum lease payments equals or exceeds 90% of the excess of fair value of the leased property. If none of the above criteria is met, the lease is accounted for as an operating lease. Operating lease payments are recognized as an operating expense in the consolidated statement of income on a straight-line basis over the lease term. For sale and lease back transactions, when the lease qualifies as an operating lease and the lease back is considered &amp;#x201c;more than minor but less than substantially all&amp;#x201d; i.e. the seller-lessee retains more than a minor part but less than substantially all of the use of the asset, the resulting gains are deferred and amortized to income over the lease period.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Equity Compensation Plan:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Share-based compensation includes vested and non-vested shares granted to employees and to non-employee directors, for their services as directors and is included in General and administrative expenses in the consolidated statements of income. These shares are measured at their fair value, which is equal to the market value of the Company&amp;#x2019;s common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and a total fair value of such shares is recognized in full on the grant date. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized over the vesting period on a straight-line basis over the requisite service period for each separate portion of the award as if the award was, in substance, multiple awards (graded vesting attribution method). In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until non-employees complete the service (Note&amp;nbsp;14).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Earnings per Share:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Basic earnings per share are computed under the two-class method by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;Dilution is computed by either the treasury stock method or the two&amp;#x2013;class method, whichever results in the more dilutive effect. Under the treasury stock method, all of the Company&amp;#x2019;s dilutive securities are assumed to be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company&amp;#x2019;s common stock during the relevant periods. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings per share computation to the extent these are not anti-dilutive (Note&amp;nbsp;15).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Derivatives&lt;/i&gt;&lt;/b&gt;:&amp;nbsp;The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed interest rate for a certain period in exchange. The Company designates its derivatives based upon guidance on ASC 815, &amp;#x201c;Derivatives and Hedging&amp;#x201d; which establishes accounting and reporting requirements for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. The guidance on accounting for certain derivative instruments and certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are met.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;(i) &lt;b&gt;Hedge Accounting&lt;/b&gt;: At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument&amp;#x2019;s effectiveness in offsetting exposure to changes in the hedged item&amp;#x2019;s cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of &amp;#x201c;Accumulated other comprehensive income/loss&amp;#x201d; in equity, while any ineffective portion, if any, is recognized immediately in current period earnings.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the statement of income. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as a component of &amp;#x201c;Loss on derivatives&amp;#x201d;.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;(ii) &lt;b&gt;Other Derivatives&lt;/b&gt;: Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in current period earnings.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.45pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Recent Accounting Pronouncements&lt;/i&gt;&lt;/b&gt;:&amp;nbsp;On May&amp;nbsp;28, 2014, the Financial Accounting Standards Board (&amp;#x201c;FASB&amp;#x201d;) issued Accounting Standard Update (&amp;#x201c;ASU&amp;#x201d;) No 2014-09 as amended by ASU 2015-14 which was issued on August&amp;nbsp;12, 2015, Revenue From Contracts With Customers, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities with reporting periods beginning after December&amp;nbsp;15, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December&amp;nbsp;15, 2016. The Company is currently evaluating the impact, if any, of the adoption of this new standard.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In April 2015, the FASB issued ASU No 2015-03, &quot;Simplifying the Presentation of Debt Issuance Costs&quot;, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. ASU 2015-03 was early adopted by the Company during the fourth quarter of 2015 with retrospective application.&amp;nbsp;The reclassification does not impact net income as previously reported or any prior amounts reported on the consolidated statements of comprehensive income, or the consolidated statements of cash flows. The effect of the retrospective application of this change in accounting principle on the Company&amp;#x2019;s consolidated balance sheets as of December&amp;nbsp;31, 2014 resulted in a reduction of Deferred finance charges in the amount of $1,521,543 with a corresponding decrease of $1,032,992 in Long-term debt and Total non current liabilities and a decrease of $488,551 in Current portion of long-term debt and Total current liabilities.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory to simplify the measurement of inventory using first-in, first out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In February 2016, the FASB issued ASU 2016-02&lt;font style=&quot;color: #313131&quot;&gt;, Leases (Topic 842)&lt;/font&gt;. The standard amends the existing accounting standards for lease accounting and adds additional disclosures about leasing arrangements. The ASU requires lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by most leases, while lessor accounting remains largely unchanged. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018. Early adoption is permitted for all entities. The Company has not yet evaluated the impact, if any, of the adoption of this new standard.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In March 2016, the FASB issued amendments concerning the effect of derivative contract novations on existing hedge accounting relationships. As it relates to derivative instruments, novation refers to replacing one of the parties to a derivative instrument with a new party, which may occur for a variety of reasons such as: financial institution mergers, intercompany transactions, an entity exiting a particular derivatives business or relationship, or because of laws or regulatory requirements. The amendments clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under the guidance for Derivatives and Hedging (Topic 815) does not, in and of itself, require dedesignation of that hedge accounting relationship provided that all other hedge accounting criteria continue to be met. The amendments are effective for public entities for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The amendments may be applied on either a prospective basis or a modified retrospective basis and early application is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The adoption of this guidance is not expected to have a material impact on the Company&apos;s financial statements.&lt;/p&gt;&lt;br/&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:ConsolidationPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Principles of Consolidation:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#x201c;US GAAP&amp;#x201d;) and include the accounts of StealthGas Inc. and its wholly owned subsidiaries. All inter-company balances and transactions have been eliminated upon consolidation.&lt;/p&gt;</us-gaap:ConsolidationPolicyTextBlock>
  <us-gaap:UseOfEstimates contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Use of Estimates:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The preparation of consolidated financial statements in conformity with US&amp;nbsp;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/p&gt;</us-gaap:UseOfEstimates>
  <us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Other Comprehensive Income/(Loss):&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company follows the provisions of guidance regarding reporting comprehensive income which requires separate presentation of certain transactions, such as unrealized gains and losses from effective portion of cash flow hedges, which are recorded directly as components of stockholders&amp;#x2019; equity.&lt;/p&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
  <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Foreign Currency Translation:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The functional currency of the Company is the U.S.&amp;nbsp;Dollar because the Company&amp;#x2019;s vessels operate in international shipping markets, which utilize the U.S.&amp;nbsp;Dollar as the functional currency. The accounting books of the Company are maintained in U.S.&amp;nbsp;Dollars. Transactions involving other currencies during the year are converted into U.S.&amp;nbsp;Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated to reflect the period end exchange rates. Resulting gains or losses are separately reflected in the accompanying consolidated statements of income.&lt;/p&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Cash and Cash Equivalents:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash equivalents.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Restricted Cash:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Restricted cash mainly reflects deposits with certain banks that can only be used to pay the current loan installments or which are required to be maintained as a certain minimum cash balance per mortgaged vessel or cash held in restricted bank account for guarantees issued by the bank on the Company&amp;#x2019;s behalf. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
  <us-gaap:TradeAndOtherAccountsReceivablePolicy contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Trade Receivables:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The amount shown as trade receivables includes estimated recoveries from charterers for hire, freight and demurrage billings, net of allowance for doubtful accounts. At each balance sheet date, all potentially un-collectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision for doubtful accounts was required for any of the periods presented.&lt;/p&gt;</us-gaap:TradeAndOtherAccountsReceivablePolicy>
  <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">0</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
  <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">0</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
  <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent unitRef="usd" contextRef="c20_AsOf31Dec2013" decimals="0">0</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
  <us-gaap:ReceivablesPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Claims Receivable:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Claims receivable are recorded on the accrual basis and represent the claimable expenses, net of deductibles, incurred through each balance sheet date, for which recovery from insurance companies is probable and claim is not subject to litigation. Any remaining costs to complete the claims are included in accrued liabilities.&lt;/p&gt;</us-gaap:ReceivablesPolicyTextBlock>
  <us-gaap:InventoryPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Inventories:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Inventories consist of bunkers (for vessels under voyage charter) and lubricants. The cost is determined by the first-in, first-out method. The Company considers victualling and stores as being consumed when purchased and, therefore, such costs are expensed when incurred.&lt;/p&gt;</us-gaap:InventoryPolicyTextBlock>
  <gass:AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Advances for vessels under construction:&lt;/i&gt;&lt;/b&gt; This represents amounts expended by the Company in accordance with the terms of the construction contracts for vessels as well as other expenses in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are capitalized.&lt;/p&gt;</gass:AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock>
  <gass:VesselsAcquisitionsPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Vessels Acquisitions:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Vessels are stated at cost, which consists of the contract price less discounts and any material expenses incurred upon acquisition (initial repairs, improvements, acquisition and expenditures made to prepare the vessel for its initial voyage). Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels, or otherwise are charged to expenses as incurred. The Company records all identified tangible and intangible assets associated with the acquisition of a vessel or liabilities at fair value. Where vessels are acquired with existing time charters, the Company allocates the purchase price to the time charters based on the present value (using an interest rate which reflects the risks associated with the acquired charters) of the difference between (i)&amp;nbsp;the contractual amounts to be paid pursuant to the charter terms and (ii)&amp;nbsp;management&amp;#x2019;s estimate of the fair market charter rate, measured over a period equal to the remaining term of the charter. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to revenues over the remaining term of the charter.&lt;/p&gt;</gass:VesselsAcquisitionsPolicyTextBlock>
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Impairment or Disposal of Long-lived Assets:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company follows the Accounting Standards Codification (&amp;#x201c;ASC&amp;#x201d;) Subtopic 360-10, &amp;#x201c;Property, Plant and Equipment&amp;#x201d; (&amp;#x201c;ASC 360-10&amp;#x201d;), which requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts. If indicators of impairment are present, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets.&amp;nbsp;If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value and the difference is recorded as an impairment loss in the consolidated statements of income.&amp;nbsp;Various factors including anticipated future charter rates, estimated scrap values, future dry-docking costs and estimated vessel operating costs are included in this analysis. These factors are based on historical trends as well as future expectations. Undiscounted cashflows are determined by considering the revenues from existing charters for those vessels that have long term employment and when there is no charter in place the estimates based on historical average rates with an annual increase of 1%. The Company also assumes an average annual inflation rate of 1.50% for operating expenses. No impairment loss was identified or recorded for the year ended December 31, 2013. An impairment loss was identified and recorded for the years ended December 31, 2014 and 2015 (Note 6).&lt;/p&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock>
  <gass:ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue unitRef="pure" contextRef="c4_From1Jan2015To31Dec2015" decimals="2">0.01</gass:ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue>
  <gass:ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue unitRef="pure" contextRef="c4_From1Jan2015To31Dec2015" decimals="4">0.0150</gass:ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue>
  <us-gaap:ImpairmentOfLongLivedAssetsHeldForUse unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">0</us-gaap:ImpairmentOfLongLivedAssetsHeldForUse>
  <us-gaap:DepreciationDepletionAndAmortizationPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Vessels&amp;#x2019; Depreciation:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The cost of each of the Company&amp;#x2019;s vessels is depreciated on a straight-line basis over the vessel&amp;#x2019;s remaining economic useful life, after considering the estimated residual value. Management estimates the useful life of each of the Company&amp;#x2019;s LPG carriers to be 30 years and product and aframax tankers, to be 25&amp;nbsp;years, from the date of their construction.&lt;/p&gt;</us-gaap:DepreciationDepletionAndAmortizationPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives contextRef="c43_From1Jan2015To31Dec2015_LPGMember">30 years</us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives>
  <us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives contextRef="c44_From1Jan2015To31Dec2015_ProductCarriersMember">25 years</us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives>
  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; margin: 0pt 0; text-indent: 30pt&quot;&gt;&lt;b&gt;&lt;i&gt;Assets Held for Sale:&amp;nbsp;&lt;/i&gt;&lt;/b&gt;It is the Company&amp;#x2019;s policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies vessels as being held for sale when the following criteria are met: (i)&amp;nbsp;management possessing the necessary authority has committed to a plan to sell the vessels, (ii)&amp;nbsp;the vessels are available for immediate sale in their present condition, (iii)&amp;nbsp;an active program to find a buyer and other actions required to complete the plan to sell the vessels have been initiated, (iv)&amp;nbsp;the sale of the vessels is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year and (v)&amp;nbsp;the vessels are being actively marketed for sale at a price that is reasonable in relation to their current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. Furthermore, in the period a vessel meets the held for sale criteria in accordance with ASC 360-10, a loss is recognized for any reduction of the vessel&amp;#x2019;s carrying amount to its fair value less cost to sell. No assets were held for sale as of December&amp;nbsp;31, 2014. Concerning assets held for sale as of December 31, 2015, refer to Note 6.&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">0</us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent>
  <us-gaap:SegmentReportingPolicyPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Segment Reporting:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable.&lt;/p&gt;</us-gaap:SegmentReportingPolicyPolicyTextBlock>
  <us-gaap:NumberOfReportableSegments unitRef="pure" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">1</us-gaap:NumberOfReportableSegments>
  <gass:AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Accounting for Special Survey and Dry-docking Costs:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Special survey and dry-docking costs and all non-capitalizable repair and maintenance expenses are expensed in the period incurred.&lt;/p&gt;</gass:AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock>
  <us-gaap:DeferredChargesPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Deferred Finance Charges:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Fees incurred for obtaining new loans or refinancing existing ones are deferred and amortized to interest expense over the life of the related debt using the effective interest method. The unamortized deferred financing charges are presented as a direct deduction from the carrying amount of the related loan and credit facility in the consolidated balance sheet. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing is made. Deferred financing costs relating to undrawn facilities are presented under non-current assets in the consolidated balance sheet.&lt;/p&gt;</us-gaap:DeferredChargesPolicyTextBlock>
  <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Accounting for Revenue and Related Expenses:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using either voyage charters, where a contract is made in the spot market for the use of a vessel for a specific voyage for a specified charter rate, or time and bareboat charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily or monthly charter hire rate payable monthly in advance. If a charter agreement exists and the price is fixed, service is provided and collection of the related revenue is reasonably assured, revenue is recognized as it is earned ratably on a straight-line basis over the duration of the period of each voyage or period charter. A voyage is deemed to commence upon the completion of discharge of the vessel&amp;#x2019;s previous cargo and is deemed to end upon the completion of discharge of the current cargo, but the Company does not begin recognizing revenue until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port for its next voyage. Demurrage income represents payments by a charterer to a vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized ratably as earned during the related voyage charter&amp;#x2019;s duration period. Deferred income includes cash received prior to the balance sheet date and is related to revenue earned after such date.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Voyage expenses comprise commissions, bunkers and port expenses and are unique to a particular charter. Commissions in all cases are paid by the Company and are recognized on a pro-rata basis. All other voyage expenses are paid by the charterer under time charter arrangements or by the Company under voyage charter arrangements and are recognized as incurred.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&amp;nbsp;Vessel operating expenses comprise all expenses relating to the operation of the vessel, including crewing, repairs and maintenance, insurance, stores, lubricants and miscellaneous expenses. Vessel operating expenses are paid by the Company and are accounted for on an accrual basis.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating expenses, dry-docking expenses and risk of operation.&lt;/p&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
  <us-gaap:LeasePolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Leasing:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Leases are classified as capital leases if they meet at least one of the following criteria: (i) the leased asset automatically transfers title at the end of the lease term; (ii) the lease contains a bargain purchase option; (iii) the lease term equals or exceeds 75% of the remaining estimated economic life of the leased asset; (iv) or the present value of the minimum lease payments equals or exceeds 90% of the excess of fair value of the leased property. If none of the above criteria is met, the lease is accounted for as an operating lease. Operating lease payments are recognized as an operating expense in the consolidated statement of income on a straight-line basis over the lease term. For sale and lease back transactions, when the lease qualifies as an operating lease and the lease back is considered &amp;#x201c;more than minor but less than substantially all&amp;#x201d; i.e. the seller-lessee retains more than a minor part but less than substantially all of the use of the asset, the resulting gains are deferred and amortized to income over the lease period.&lt;/p&gt;</us-gaap:LeasePolicyTextBlock>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Equity Compensation Plan:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Share-based compensation includes vested and non-vested shares granted to employees and to non-employee directors, for their services as directors and is included in General and administrative expenses in the consolidated statements of income. These shares are measured at their fair value, which is equal to the market value of the Company&amp;#x2019;s common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and a total fair value of such shares is recognized in full on the grant date. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized over the vesting period on a straight-line basis over the requisite service period for each separate portion of the award as if the award was, in substance, multiple awards (graded vesting attribution method). In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until non-employees complete the service (Note&amp;nbsp;14).&lt;/p&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Earnings per Share:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Basic earnings per share are computed under the two-class method by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;Dilution is computed by either the treasury stock method or the two&amp;#x2013;class method, whichever results in the more dilutive effect. Under the treasury stock method, all of the Company&amp;#x2019;s dilutive securities are assumed to be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company&amp;#x2019;s common stock during the relevant periods. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings per share computation to the extent these are not anti-dilutive (Note&amp;nbsp;15).&lt;/p&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:DerivativesPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Derivatives&lt;/i&gt;&lt;/b&gt;:&amp;nbsp;The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed interest rate for a certain period in exchange. The Company designates its derivatives based upon guidance on ASC 815, &amp;#x201c;Derivatives and Hedging&amp;#x201d; which establishes accounting and reporting requirements for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. The guidance on accounting for certain derivative instruments and certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are met.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;(i) &lt;b&gt;Hedge Accounting&lt;/b&gt;: At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument&amp;#x2019;s effectiveness in offsetting exposure to changes in the hedged item&amp;#x2019;s cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of &amp;#x201c;Accumulated other comprehensive income/loss&amp;#x201d; in equity, while any ineffective portion, if any, is recognized immediately in current period earnings.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the statement of income. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as a component of &amp;#x201c;Loss on derivatives&amp;#x201d;.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;(ii) &lt;b&gt;Other Derivatives&lt;/b&gt;: Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in current period earnings.&lt;/p&gt;</us-gaap:DerivativesPolicyTextBlock>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;p style=&quot;font-size: 10pt; text-indent: 24.45pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Recent Accounting Pronouncements&lt;/i&gt;&lt;/b&gt;:&amp;nbsp;On May&amp;nbsp;28, 2014, the Financial Accounting Standards Board (&amp;#x201c;FASB&amp;#x201d;) issued Accounting Standard Update (&amp;#x201c;ASU&amp;#x201d;) No 2014-09 as amended by ASU 2015-14 which was issued on August&amp;nbsp;12, 2015, Revenue From Contracts With Customers, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities with reporting periods beginning after December&amp;nbsp;15, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December&amp;nbsp;15, 2016. The Company is currently evaluating the impact, if any, of the adoption of this new standard.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In April 2015, the FASB issued ASU No 2015-03, &quot;Simplifying the Presentation of Debt Issuance Costs&quot;, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. ASU 2015-03 was early adopted by the Company during the fourth quarter of 2015 with retrospective application.&amp;nbsp;The reclassification does not impact net income as previously reported or any prior amounts reported on the consolidated statements of comprehensive income, or the consolidated statements of cash flows. The effect of the retrospective application of this change in accounting principle on the Company&amp;#x2019;s consolidated balance sheets as of December&amp;nbsp;31, 2014 resulted in a reduction of Deferred finance charges in the amount of $1,521,543 with a corresponding decrease of $1,032,992 in Long-term debt and Total non current liabilities and a decrease of $488,551 in Current portion of long-term debt and Total current liabilities.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory to simplify the measurement of inventory using first-in, first out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In February 2016, the FASB issued ASU 2016-02&lt;font style=&quot;color: #313131&quot;&gt;, Leases (Topic 842)&lt;/font&gt;. The standard amends the existing accounting standards for lease accounting and adds additional disclosures about leasing arrangements. The ASU requires lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by most leases, while lessor accounting remains largely unchanged. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018. Early adoption is permitted for all entities. The Company has not yet evaluated the impact, if any, of the adoption of this new standard.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In March 2016, the FASB issued amendments concerning the effect of derivative contract novations on existing hedge accounting relationships. As it relates to derivative instruments, novation refers to replacing one of the parties to a derivative instrument with a new party, which may occur for a variety of reasons such as: financial institution mergers, intercompany transactions, an entity exiting a particular derivatives business or relationship, or because of laws or regulatory requirements. The amendments clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under the guidance for Derivatives and Hedging (Topic 815) does not, in and of itself, require dedesignation of that hedge accounting relationship provided that all other hedge accounting criteria continue to be met. The amendments are effective for public entities for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The amendments may be applied on either a prospective basis or a modified retrospective basis and early application is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The adoption of this guidance is not expected to have a material impact on the Company&apos;s financial statements.&lt;/p&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <us-gaap:PriorPeriodReclassificationAdjustment unitRef="usd" contextRef="c45_From1Jan2014To31Dec2014_December312014Member_ReductionInDeferredFinanceChargesMember" decimals="0">1521543</us-gaap:PriorPeriodReclassificationAdjustment>
  <us-gaap:PriorPeriodReclassificationAdjustment unitRef="usd" contextRef="c46_From1Jan2014To31Dec2014_December312014Member_ReductionInLongTermDebtMember" decimals="0">1032992</us-gaap:PriorPeriodReclassificationAdjustment>
  <us-gaap:PriorPeriodReclassificationAdjustment unitRef="usd" contextRef="c47_From1Jan2014To31Dec2014_December312014Member_ReductionInCurrentPortionOfLongTermDebtMember" decimals="0">488551</us-gaap:PriorPeriodReclassificationAdjustment>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;3.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Transactions with Related Parties &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Manager provides the vessels with a wide range of shipping services such as chartering, technical support and maintenance, insurance, consulting, financial and accounting services, for a fixed daily fee of $440 per vessel operating under a voyage or time charter or $125 per vessel operating under a bareboat charter and a brokerage commission of 1.25% on freight, hire and demurrage per vessel, as per the management agreement between the Manager and the Company. The Manager has subcontracted the technical management of some of the vessels to an affiliated ship-management company, Brave Maritime Corp. Inc. (&amp;#x201c;Brave&amp;#x201d;). This company provides technical management to the Company&amp;#x2019;s vessels for a fixed annual fee per vessel which is paid by the Manager. For the years ended December&amp;nbsp;31, 2013, 2014 and 2015, total brokerage commissions of 1.25% amounted to $1,482,764, $1,613,421 and $1,725,683, respectively, and are included in &amp;#x201c;Voyage expenses &amp;#x2013; related party&amp;#x201d; in the consolidated statements of income. For the years ended December&amp;nbsp;31, 2013, 2014 and 2015, the management fees were $4,807,010, $5,501,675 and $6,452,145, respectively and are included in &amp;#x201c;Management fees &amp;#x2013; related party&amp;#x201d; in the consolidated statements of income. In addition, the Manager arranges for supervision onboard the vessels, when required, by superintendent engineers and when such visits exceed a period of five days in a twelve month period, an amount of $500 is charged for each additional day. For the years ended December&amp;nbsp;31, 2013, 2014 and 2015, the superintendent fees amounted to $151,000, $167,000 and $245,000, respectively, and are included in &amp;#x201c;Vessels&amp;#x2019; operating expenses &amp;#x2013; related party&amp;#x201d; in the consolidated statements of income.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Manager also acts as a sales and purchase broker for the Company in exchange for a commission fee equal to 1% of the gross sale or purchase price of vessels or companies. For the years ended December&amp;nbsp;31, 2013, 2014 and 2015 commission fees relating to vessels purchased of $723,500, $984,355 and $1,925,563, respectively, were incurred and capitalized to the cost of the vessels. For the year ended December&amp;nbsp;31, 2014 an amount of $285,000 was recognized as commission expenses relating to the sale and leaseback of vessels and is included in the consolidated balance sheets under the caption &amp;#x201c;Deferred gain on sale and leaseback of vessels&amp;#x201d;. For the year ended December&amp;nbsp;31, 2015 an amount of $21,177 was recognized as commission expenses relating to the sale of vessels and is included in the consolidated statements of income under the caption &amp;#x201c;Net gain on sale of vessels&amp;#x201d;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In addition to management services, the Company reimburses the Manager for compensation of its Chief Executive Officer, its Chief Financial Officer, its Internal Auditor, its Chief Technical Officer, its Finance Manager and its Deputy Chairman and Executive Director, which reimbursements were in the amounts of $1,245,766, $1,317,237 and $1,077,698, for the years ended December 31, 2013, 2014 and 2015, respectively, and are included in the consolidated statements of income under the caption &amp;#x201c;General and administrative expenses&amp;#x201d;.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The current account balance with the Manager at December&amp;nbsp;31, 2014 and at December&amp;nbsp;31, 2015 was a liability of $4,941,896 and $9,188,852, respectively. The liability represents payments made by the Manager on behalf of the ship-owning companies.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company rents office space that is owned by an affiliated company of the Manager. Rental expense for the years ended December&amp;nbsp;31, 2013, 2014 and 2015 amounted to $78,070, $76,788 and $72,753, respectively, and is included in the consolidated statements of income under the caption &amp;#x201c;General and administrative expenses&amp;#x201d;.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In April 2012, the Company entered into time charter agreements for two of the Company&amp;#x2019;s vessels with Emihar Petroleum Inc., a company affiliated with members of the Vafias family incorporated in the Marshall Islands. Revenue from the related party amounted to $9,814,000 for each of the years ended December&amp;nbsp;31, 2013, 2014 and 2015, respectively, and is included in the consolidated statements of income under the caption &amp;#x201c;Revenues &amp;#x2013; related party&amp;#x201d;. In accordance with the time charter agreements for the vessels&amp;#x2019; operating expenses, the Company paid to the Manager amounts of $3,933,149, $3,932,352 and $3,932,042 for the years ended December&amp;nbsp;31, 2013, 2014 and 2015, respectively, which are included in the consolidated statements of income under the caption &amp;#x201c;Vessels&amp;#x2019; operating expenses &amp;#x2013; related party&amp;#x201d;. The receivable balance with Emihar as of December&amp;nbsp;31, 2014 and 2015, was a receivable of $332,970 and $228,494, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On August 22, 2012, the Company entered into separate memoranda of agreements with a company affiliated with members of the Vafias family to acquire four LPG carriers under construction which were scheduled to be delivered during the year 2015. The aggregate purchase price of these vessels was $96,000,000. As provided by the memoranda of agreements, an advance payment of 20% of the aggregate purchase price was paid on September 28, 2012. On July 11, 2014, the acquisition of two of the above LPG carriers was cancelled and on September 30, 2014 the Company collected the full amount of the advances paid to the affiliated company with the capitalized interest, totaling to $10,044,799 (Note 5). The remaining two vessels, &amp;#x201c;Eco Dream&amp;#x201d; and &amp;#x201c;Eco Green&amp;#x201d;, were delivered to the Company on August 18, 2015 and on September 25, 2015, respectively (Note 6).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On May 26, 2014, the Company entered into an agreement with Brave for the supervision of the construction of eight of its vessels for a fixed fee of Euro 390,000 per vessel. For the years ended December 31, 2014 and 2015, the supervision fees amounted to $984,204 and $1,726,265, respectively, and were capitalized to the cost of the respective vessels.&lt;/p&gt;&lt;br/&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <gass:ManagementFeePerDayPerVessel unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">440</gass:ManagementFeePerDayPerVessel>
  <gass:ManagementFeePerDayPerVesselUnderBareboatCharter unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">125</gass:ManagementFeePerDayPerVesselUnderBareboatCharter>
  <gass:VesselBrokerageCommissionPercentage unitRef="pure" contextRef="c2_From1Jan2013To31Dec2013" decimals="4">0.0125</gass:VesselBrokerageCommissionPercentage>
  <gass:VesselBrokerageCommissionPercentage unitRef="pure" contextRef="c3_From1Jan2014To31Dec2014" decimals="4">0.0125</gass:VesselBrokerageCommissionPercentage>
  <gass:VesselBrokerageCommissionPercentage unitRef="pure" contextRef="c4_From1Jan2015To31Dec2015" decimals="4">0.0125</gass:VesselBrokerageCommissionPercentage>
  <gass:VesselBrokerageCommission unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">1482764</gass:VesselBrokerageCommission>
  <gass:VesselBrokerageCommission unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">1613421</gass:VesselBrokerageCommission>
  <gass:VesselBrokerageCommission unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">1725683</gass:VesselBrokerageCommission>
  <us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty unitRef="usd" contextRef="c48_From1Jan2015To31Dec2015_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" decimals="0">500</us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty>
  <us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty unitRef="usd" contextRef="c49_From1Jan2013To31Dec2013_SuperintendentFeesMember" decimals="0">151000</us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty>
  <us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty unitRef="usd" contextRef="c50_From1Jan2014To31Dec2014_SuperintendentFeesMember" decimals="0">167000</us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty>
  <us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty unitRef="usd" contextRef="c51_From1Jan2015To31Dec2015_SuperintendentFeesMember" decimals="0">245000</us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty>
  <gass:SalesAndPurchaseBrokerCommissionFeePercentage unitRef="pure" contextRef="c3_From1Jan2014To31Dec2014" decimals="2">0.01</gass:SalesAndPurchaseBrokerCommissionFeePercentage>
  <gass:SalesandPurchaseBrokerCommissionFee unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">723500</gass:SalesandPurchaseBrokerCommissionFee>
  <gass:SalesandPurchaseBrokerCommissionFee unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">984355</gass:SalesandPurchaseBrokerCommissionFee>
  <gass:SalesandPurchaseBrokerCommissionFee unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">1925563</gass:SalesandPurchaseBrokerCommissionFee>
  <gass:NetGainLossOnSaleVessels unitRef="usd" contextRef="c52_From1Jan2014To31Dec2014_CommissionExpensesMember" decimals="0">285000</gass:NetGainLossOnSaleVessels>
  <gass:NetGainLossOnSaleVessels unitRef="usd" contextRef="c53_From1Jan2015To31Dec2015_CommissionExpensesMember" decimals="0">21177</gass:NetGainLossOnSaleVessels>
  <us-gaap:GeneralAndAdministrativeExpense unitRef="usd" contextRef="c54_From1Jan2013To31Dec2013_ReimbursedManagerCompensationMember" decimals="0">1245766</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense unitRef="usd" contextRef="c55_From1Jan2014To31Dec2014_ReimbursedManagerCompensationMember" decimals="0">1317237</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense unitRef="usd" contextRef="c56_From1Jan2015To31Dec2015_ReimbursedManagerCompensationMember" decimals="0">1077698</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c57_From1Jan2013To31Dec2013_OfficeSpaceRentMember" decimals="0">78070</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c58_From1Jan2014To31Dec2014_OfficeSpaceRentMember" decimals="0">76788</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
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  <us-gaap:RevenueFromRelatedParties unitRef="usd" contextRef="c60_From1Jan2013To31Dec2013_EmiharPetroleumIncMember" decimals="0">9814000</us-gaap:RevenueFromRelatedParties>
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  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">3932352</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">3932042</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c61_From1Jan2014To31Dec2014_VesselsOperatingExpensesMember" decimals="0">332970</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c62_From1Jan2015To31Dec2015_VesselsOperatingExpensesMember" decimals="0">228494</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <gass:VesselPurchasePrice unitRef="usd" contextRef="c63_AsOf22Aug2012_AffiliatedCompanyMember" decimals="0">96000000</gass:VesselPurchasePrice>
  <gass:AdvancesPercentageForVesselsUnderConstructionAcquisitions unitRef="pure" contextRef="c64_From1Sep2012To28Sep2012_AffiliatedCompanyMember" decimals="2">0.20</gass:AdvancesPercentageForVesselsUnderConstructionAcquisitions>
  <us-gaap:ProceedsFromCollectionOfLongtermLoansToRelatedParties unitRef="usd" contextRef="c65_From30Sep2014To30Sep2014_CollectionOfAdvancePaymentsMember_AffiliatedCompanyMember" decimals="0">10044799</us-gaap:ProceedsFromCollectionOfLongtermLoansToRelatedParties>
  <gass:RelatedPartyTransactionVesselConstructionFeePerVessel unitRef="eur" contextRef="c66_From26May2014To26May2014_BraveMember" decimals="0">390000</gass:RelatedPartyTransactionVesselConstructionFeePerVessel>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c67_From1Jan2014To31Dec2014_CapitalizedConstructionSupervisionFeesMember_BraveMember" decimals="0">984204</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction unitRef="usd" contextRef="c68_From1Jan2015To31Dec2015_CapitalizedConstructionSupervisionFeesMember_BraveMember" decimals="0">1726265</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:InventoryDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;4.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Inventories &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 85%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 64%; font-size: 10pt&quot;&gt;Bunkers &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;1,426,838&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;1,116,604&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;Lubricants &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,531,828&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,799,650&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;2,958,666&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;2,916,254&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 85%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 64%; font-size: 10pt&quot;&gt;Bunkers &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;1,426,838&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;1,116,604&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;Lubricants &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,531,828&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,799,650&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;2,958,666&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;2,916,254&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <gass:InventoriesBunkers unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">1426838</gass:InventoriesBunkers>
  <gass:InventoriesBunkers unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">1116604</gass:InventoriesBunkers>
  <gass:InventoryLubricants unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">1531828</gass:InventoryLubricants>
  <gass:InventoryLubricants unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">1799650</gass:InventoryLubricants>
  <gass:AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;5.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Advances for Vessels Under Construction and Acquisitions &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amount shown in the accompanying consolidated balance sheet as of December&amp;nbsp;31, 2014 of $88,965,085 mainly represents advance payments to sellers for two LPG carriers under construction contracted in 2012 (see Note 3), advance payments to sellers for three LPG carriers under construction contracted in 2013, advance payments to ship-builders for four LPG carriers under construction contracted in 2013, advance payments to ship-builders for six LPG carriers under construction contracted in 2014 and advance payments to sellers for one LPG carrier under construction contracted in 2014.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amount shown in the accompanying consolidated balance sheet as of December&amp;nbsp;31, 2015 of $44,031,882 mainly represents advance payments to ship-builders for six LPG carriers under construction contracted in 2014.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;For the years ended December&amp;nbsp;31, 2014 and 2015, the movement of the account, advances for vessels under construction and acquisitions was as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 85%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 82%; font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2013 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;70,577,435&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Advances for vessels under construction and acquisitions &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;124,973,343&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized interest &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,113,297&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,805,342&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Vessels delivered &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(101,459,533&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Vessels cancelled (Note 3) &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(10,044,799&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2014 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;88,965,085&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Advances for vessels under construction and acquisitions &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;148,318,231&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized interest &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,822,443&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,085,534&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Vessels delivered &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(200,159,411&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Balance, December&amp;nbsp;31, 2015 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;44,031,882&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;</gass:AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock>
  <gass:NumberOfVesselsUnderConstruction unitRef="pure" contextRef="c69_AsOf31Dec2014_LPGCarriersContractedIn2012FromSellerMember" decimals="0">2</gass:NumberOfVesselsUnderConstruction>
  <gass:NumberOfVesselsUnderConstruction unitRef="pure" contextRef="c70_AsOf31Dec2014_LPGCarriersContractedIn2013FromSellerMember" decimals="0">3</gass:NumberOfVesselsUnderConstruction>
  <gass:NumberOfVesselsUnderConstruction unitRef="pure" contextRef="c71_AsOf31Dec2014_LPGCarriersContractedIn2013FromShipBuilderMember" decimals="0">4</gass:NumberOfVesselsUnderConstruction>
  <gass:NumberOfVesselsUnderConstruction unitRef="pure" contextRef="c72_AsOf31Dec2014_LPGCarriersContractedIn2014FromShipBuildersMember" decimals="0">6</gass:NumberOfVesselsUnderConstruction>
  <gass:NumberOfVesselsUnderConstruction unitRef="pure" contextRef="c73_AsOf31Dec2014_LPGCarriersContractedIn2014FromSellersMember" decimals="0">1</gass:NumberOfVesselsUnderConstruction>
  <gass:NumberOfVesselsUnderConstruction unitRef="pure" contextRef="c74_AsOf31Dec2015_LPGCarriersContractedIn2014FromShipBuildersMember" decimals="0">6</gass:NumberOfVesselsUnderConstruction>
  <gass:AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 85%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 82%; font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2013 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;70,577,435&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Advances for vessels under construction and acquisitions &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;124,973,343&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized interest &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,113,297&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,805,342&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Vessels delivered &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(101,459,533&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Vessels cancelled (Note 3) &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(10,044,799&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2014 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;88,965,085&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Advances for vessels under construction and acquisitions &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;148,318,231&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized interest &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,822,443&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Capitalized expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,085,534&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Vessels delivered &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(200,159,411&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Balance, December&amp;nbsp;31, 2015 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;44,031,882&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</gass:AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock>
  <gass:AdvancesForVesselsUnderConstructionAndAcquisitions unitRef="usd" contextRef="c20_AsOf31Dec2013" decimals="0">70577435</gass:AdvancesForVesselsUnderConstructionAndAcquisitions>
  <gass:AdvancesForVesselsUnderConstructionAcquisitions unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">124973343</gass:AdvancesForVesselsUnderConstructionAcquisitions>
  <us-gaap:InterestCostsCapitalized unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">2113297</us-gaap:InterestCostsCapitalized>
  <gass:CapitalizedExpenses unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">2805342</gass:CapitalizedExpenses>
  <gass:VesselsDelivered unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">101459533</gass:VesselsDelivered>
  <gass:VesselsCancelled unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">10044799</gass:VesselsCancelled>
  <gass:AdvancesForVesselsUnderConstructionAcquisitions unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">148318231</gass:AdvancesForVesselsUnderConstructionAcquisitions>
  <us-gaap:InterestCostsCapitalized unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">1822443</us-gaap:InterestCostsCapitalized>
  <gass:CapitalizedExpenses unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">5085534</gass:CapitalizedExpenses>
  <gass:VesselsDelivered unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">200159411</gass:VesselsDelivered>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;6.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Vessels, net &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 95%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Vessel cost&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Accumulated&lt;br /&gt; Depreciation&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Net Book&lt;br /&gt; Value&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 52%; font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2013 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;849,452,594&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(172,429,692&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;677,022,902&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;101,459,533&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;101,459,533&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Disposals &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(39,075,007&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;11,925,771&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(27,149,236&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Impairment loss &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(16,449,131&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;10,280,384&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(6,168,747&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Depreciation for the year &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(33,811,607&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(33,811,607&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2014 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;895,387,989&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(184,035,144&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;711,352,845&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;200,159,411&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;200,159,411&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Disposals &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,977,051&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,977,051&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Impairment loss &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(26,190,677&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;17,951,690&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(8,238,987&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Vessel held for sale &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(748,823&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(748,823&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Depreciation for the year &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(35,857,507&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(35,857,507&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Balance, December&amp;nbsp;31, 2015 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;1,066,630,849&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(201,940,961&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;864,689,888&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The additions in 2014 relate to the acquisition of vessels &amp;#x201c;Eco Stream&amp;#x201d;, &amp;#x201c;Eco Chios&amp;#x201d;, &amp;#x201c;Eco Elysium&amp;#x201d;, &amp;#x201c;Eco Invictus&amp;#x201d; and &amp;#x201c;Eco Corsair&amp;#x201d;. In addition, on November 14, 2014 and on December 15, 2014, the Company entered into separate memoranda of agreement for the disposal of the vessels &amp;#x201c;Gas Premiership&amp;#x201d; and &amp;#x201c;Gas Cathar&amp;#x201d;, respectively, to an unaffiliated third party for $28,500,000 and entered simultaneously into bareboat charter agreements to leaseback the vessels for periods of four years (Note 19). The vessels were delivered to the new owners on November 19, 2014 and on December 19, 2014, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;At December 31, 2014, the Company decided to seek to dispose of two of the oldest vessels of the fleet. As a result of this decision, the undiscounted net operating cash flows of each of these vessels did not exceed each vessel&amp;#x2019;s carrying value and the Company identified and recorded an impairment loss of $6,168,747 which is presented under the caption &amp;#x201c;Impairment loss&amp;#x201d; in the consolidated statements of income. On March 12, 2015, the Company concluded two separate memoranda of agreement for the disposal of the vessels described above, &amp;#x201c;Gas Kaizen&amp;#x201d; and &amp;#x201c;Gas Crystal&amp;#x201d;, to an unaffiliated third party for $2,054,156. The vessels were delivered to the new owners on April 1, 2015 and April 16, 2015, respectively. No assets were held for sale as of December&amp;nbsp;31, 2014.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The additions in 2015 relate to the acquisition of vessels &amp;#x201c;Eco Lucidity&amp;#x201d;, &amp;#x201c;Eco Enigma&amp;#x201d;, &amp;#x201c;Eco Royalty&amp;#x201d;, &amp;#x201c;Eco Loyalty&amp;#x201d;, &amp;#x201c;Eco Universe&amp;#x201d;, &amp;#x201c;Eco Galaxy&amp;#x201d;, &amp;#x201c;Eco Czar&amp;#x201d;, &amp;#x201c;Eco Dream&amp;#x201d;, &amp;#x201c;Eco Nemesis&amp;#x201d; and &amp;#x201c;Eco Green&amp;#x201d;.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;At June 30, 2015 and December 31, 2015, the Company decided to seek to dispose of two of the oldest vessels of the fleet. As a result of this decision, the undiscounted net operating cash flows of each of these vessels did not exceed each vessel&amp;#x2019;s carrying value and the Company identified and recorded an impairment loss of $6,775,416 which is presented under the caption &amp;#x201c;Impairment loss&amp;#x201d; in the consolidated statements of income. The accumulated depreciation of these vessels was written off and the vessels were recorded at their scrap value.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On November 20, 2015, the Company entered into a memorandum of agreement for the disposal of one of the above mentioned vessels, the &amp;#x201c;Gas Arctic&amp;#x201d;, to an unaffiliated third party for $950,000. The vessel, including her inventories on board, was classified as vessel held for sale in the fourth quarter of 2015 and was delivered to her new owners on January 21, 2016.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;At December 31, 2015, the Company performed an impairment review of its remaining vessels, due to the prevailing conditions in the shipping industry. As a result of the impairment review, undiscounted net operating cash flows exceeded each vessel&amp;#x2019;s carrying value with the exception of one vessel and therefore the Company identified and recorded an impairment loss of $1,463,571 which is presented under the caption &amp;#x201c;Impairment loss&amp;#x201d; in the consolidated statements of income.&lt;/p&gt;&lt;br/&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration unitRef="usd" contextRef="c75_AsOf14Nov2014_GasPremiershipMember" decimals="0">28500000</us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration>
  <us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration unitRef="usd" contextRef="c76_AsOf15Dec2014_GasCatharMember" decimals="0">28500000</us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration>
  <gass:SaleLeasebackTransactionTermOfLease contextRef="c77_From1Nov2014To31Dec2014_GasPremiershipAndGasCatharMember">P4Y</gass:SaleLeasebackTransactionTermOfLease>
  <us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration unitRef="usd" contextRef="c78_AsOf12Mar2015_TheGasKaizenAndTheGasCrystalVesselsMember" decimals="0">2054156</us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration>
  <us-gaap:AssetsHeldForSaleLongLivedFairValueDisclosure unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">0</us-gaap:AssetsHeldForSaleLongLivedFairValueDisclosure>
  <us-gaap:ImpairmentOfLongLivedAssetsHeldForUse unitRef="usd" contextRef="c79_From1Jul2015To31Dec2015" decimals="0">6775416</us-gaap:ImpairmentOfLongLivedAssetsHeldForUse>
  <us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration unitRef="usd" contextRef="c80_AsOf20Nov2015_GasArcticMember" decimals="0">950000</us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration>
  <us-gaap:ImpairmentOfLongLivedAssetsHeldForUse unitRef="usd" contextRef="c81_From1Jan2015To31Dec2015_RemainingVesselsMember" decimals="0">1463571</us-gaap:ImpairmentOfLongLivedAssetsHeldForUse>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 95%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Vessel cost&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Accumulated&lt;br /&gt; Depreciation&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Net Book&lt;br /&gt; Value&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 52%; font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2013 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;849,452,594&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(172,429,692&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;677,022,902&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;101,459,533&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;101,459,533&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Disposals &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(39,075,007&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;11,925,771&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(27,149,236&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Impairment loss &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(16,449,131&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;10,280,384&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(6,168,747&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Depreciation for the year &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(33,811,607&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(33,811,607&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;Balance, December&amp;nbsp;31, 2014 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;895,387,989&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(184,035,144&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;711,352,845&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt&quot;&gt;Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;200,159,411&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;200,159,411&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Disposals &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,977,051&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,977,051&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Impairment loss &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(26,190,677&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;17,951,690&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(8,238,987&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Vessel held for sale &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(748,823&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(748,823&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Depreciation for the year &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(35,857,507&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(35,857,507&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Balance, December&amp;nbsp;31, 2015 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;1,066,630,849&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(201,940,961&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;864,689,888&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross unitRef="usd" contextRef="c10_AsOf31Dec2012" decimals="0">849452594</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment unitRef="usd" contextRef="c20_AsOf31Dec2013" decimals="0">172429692</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:PropertyPlantAndEquipmentNet unitRef="usd" contextRef="c10_AsOf31Dec2012" decimals="0">677022902</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentAdditions unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">101459533</us-gaap:PropertyPlantAndEquipmentAdditions>
  <us-gaap:PropertyPlantAndEquipmentDisposals unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">39075007</us-gaap:PropertyPlantAndEquipmentDisposals>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1 unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">11925771</us-gaap:AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1>
  <gass:PropertyPlantAndEquipmentDisposalsNet unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">27149236</gass:PropertyPlantAndEquipmentDisposalsNet>
  <gass:ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">16449131</gass:ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation>
  <gass:AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">10280384</gass:AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">33811607</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets>
  <us-gaap:PropertyPlantAndEquipmentGross unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">895387989</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">184035144</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:PropertyPlantAndEquipmentAdditions unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">200159411</us-gaap:PropertyPlantAndEquipmentAdditions>
  <us-gaap:PropertyPlantAndEquipmentDisposals unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">1977051</us-gaap:PropertyPlantAndEquipmentDisposals>
  <gass:PropertyPlantAndEquipmentDisposalsNet unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">1977051</gass:PropertyPlantAndEquipmentDisposalsNet>
  <gass:ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">26190677</gass:ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation>
  <gass:AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">17951690</gass:AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment>
  <us-gaap:PropertyPlantAndEquipmentTransfersAndChanges unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">748823</us-gaap:PropertyPlantAndEquipmentTransfersAndChanges>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">35857507</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets>
  <us-gaap:PropertyPlantAndEquipmentGross unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">1066630849</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">201940961</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <gass:DeferredFinanceChargesTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;7.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Deferred Finance Charges&lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.45pt; margin: 0pt 0&quot;&gt;Deferred finance charges amounting to $1,569,375 and $390,000 as of December&amp;nbsp;31, 2014 and December&amp;nbsp;31, 2015, respectively, represent fees paid to the lenders for undrawn facilities, and are presented on the balance sheet under non-current assets. Gross deferred finance charges amounting to $5,959,350 and $6,343,300 as of December&amp;nbsp;31, 2014 and December&amp;nbsp;31, 2015, respectively, represent fees paid to the lenders for obtaining the related loans, and are presented on the balance sheet as a direct deduction from the carrying amount of the related loan and credit facility net of accumulated amortization. For the years ended December&amp;nbsp;31, 2013, 2014 and 2015, the amortization of deferred financing charges amounted to $425,933, $656,341 and $587,157, respectively, and is included in interest and finance costs in the consolidated statements of income.&lt;/p&gt;&lt;br/&gt;</gass:DeferredFinanceChargesTextBlock>
  <us-gaap:DeferredFinanceCostsGross unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">5959350</us-gaap:DeferredFinanceCostsGross>
  <us-gaap:DeferredFinanceCostsGross unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">6343300</us-gaap:DeferredFinanceCostsGross>
  <us-gaap:AmortizationOfFinancingCosts unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">425933</us-gaap:AmortizationOfFinancingCosts>
  <us-gaap:AmortizationOfFinancingCosts unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">656341</us-gaap:AmortizationOfFinancingCosts>
  <us-gaap:AmortizationOfFinancingCosts unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">587157</us-gaap:AmortizationOfFinancingCosts>
  <us-gaap:AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;8.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Accrued Liabilities &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 85%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 64%; font-size: 10pt; text-align: left&quot;&gt;Interest on long-term debt &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;1,436,466&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;2,536,034&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Administrative expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;339,778&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;291,932&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Vessel operating and voyage expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;2,126,783&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;2,774,973&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;3,903,027&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;5,602,939&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;</us-gaap:AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock>
  <us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 85%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 64%; font-size: 10pt; text-align: left&quot;&gt;Interest on long-term debt &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;1,436,466&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;2,536,034&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Administrative expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;339,778&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;291,932&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Vessel operating and voyage expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;2,126,783&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;2,774,973&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;3,903,027&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;5,602,939&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock>
  <us-gaap:InterestPayableCurrent unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">1436466</us-gaap:InterestPayableCurrent>
  <us-gaap:InterestPayableCurrent unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">2536034</us-gaap:InterestPayableCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">339778</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">291932</us-gaap:OtherAccruedLiabilitiesCurrent>
  <gass:VesselOperatingAndVoyageExpenses unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">2126783</gass:VesselOperatingAndVoyageExpenses>
  <gass:VesselOperatingAndVoyageExpenses unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">2774973</gass:VesselOperatingAndVoyageExpenses>
  <us-gaap:DeferredRevenueDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;9.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Deferred Income &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amounts shown in the accompanying consolidated balance sheets amounting to $7,064,756 and $5,423,533 represent time and bareboat charter revenues received in advance as of December&amp;nbsp;31, 2014 and as of December&amp;nbsp;31, 2015, respectively.&lt;/p&gt;&lt;br/&gt;</us-gaap:DeferredRevenueDisclosureTextBlock>
  <us-gaap:DeferredRevenueCurrent unitRef="usd" contextRef="c82_AsOf31Dec2014_TimeAndBareboatDeferredRevenueMember" decimals="0">7064756</us-gaap:DeferredRevenueCurrent>
  <us-gaap:DeferredRevenueCurrent unitRef="usd" contextRef="c83_AsOf31Dec2015_TimeAndBareboatDeferredRevenueMember" decimals="0">5423533</us-gaap:DeferredRevenueCurrent>
  <gass:CustomerDepositsTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;10.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Customer Deposits &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;These amounts represent deposits received from charterers as guarantees and are comprised as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0.25in&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 0.25in&quot;&gt;(a)&lt;/td&gt;
      &lt;td style=&quot;text-align: justify&quot;&gt;On February 24, 2015 an amount of $1,820,700 was received from the bareboat charterer of Aframax tanker &amp;#x201c;Spike&amp;#x201d; which is equal to five-months hire. This amount will be returned to the charterer at the end of the thirty two months bareboat charter.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-align: justify; text-indent: -19.8pt; margin: 0pt 0 0pt 37.8pt&quot;&gt;(b) On October 12, 2015 an amount of $736,000 was received from the bareboat charterer of Product carrier &amp;#x201c;Navig8 Faith&amp;#x201d; which is equal to three-months hire. This amount will be returned to the charterer at the end of the three-year bareboat charter.&lt;/p&gt;&lt;br/&gt;</gass:CustomerDepositsTextBlock>
  <us-gaap:ProceedsFromDepositsFromCustomers unitRef="usd" contextRef="c84_From24Feb2015To24Feb2015_SpikeMember" decimals="0">1820700</us-gaap:ProceedsFromDepositsFromCustomers>
  <us-gaap:ProceedsFromDepositsFromCustomers unitRef="usd" contextRef="c85_From12Oct2015To12Oct2015_Navig8FaithMember" decimals="0">736000</us-gaap:ProceedsFromDepositsFromCustomers>
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  <us-gaap:DebtDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;11.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Long-term Debt &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Term Loans&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Original&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 31,&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Movement in 2015&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 31,&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Issue Date&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Maturity Date&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Amount&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Additions&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Repayments&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2015&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 5, 2005&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 9, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;100,067,500&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;13,816,882&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(5,029,852&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;8,787,030&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;May 17, 2006&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;May 30, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;79,850,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;14,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(14,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 6, 2006&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 28, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;6,580,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,763,440&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(473,760&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,289,680&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 21, 2007&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 21, 2017&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;49,875,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,365,764&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(4,869,014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;17,496,750&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;February 12, 2008&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;February 19, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;40,250,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,875,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(2,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,375,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 30, 2008&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;November 4, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;33,240,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,606,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(1,939,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,667,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;October 9, 2008&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;October 9, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;29,437,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;8,650,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(780,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;7,870,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;January 30, 2009&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 15, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;45,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;30,550,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;27,150,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 14, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 14, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;20,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,300,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(2,200,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;17,100,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;February 1, 2011&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 1, 2018&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;49,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;37,850,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,300,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;34,550,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;March 1, 2011&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 20, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;43,250,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;35,375,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;32,375,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 23, 2013&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 30, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;45,212,500&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;38,896,767&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(5,052,587&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;33,844,180&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;March 24, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 30, 2021&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;50,225,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;33,040,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;15,925,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(2,520,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;46,445,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 16, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 16, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;30,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,915,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;15,750,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;25,665,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 12, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;October 2, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;13,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;13,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(880,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,120,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 20, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;January 8, 2023&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;20,925,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;20,925,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(1,065,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,860,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 20, 2013&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;November 16, 2022&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;67,200,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;32,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;31,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 24, 2015&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 14, 2022&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 4, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 3, 2021&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,750,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,750,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(406,250&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,343,750&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 29, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 7, 2023&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;25,350,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;25,350,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(528,125&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;24,821,875&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;325,503,853&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;155,100,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(55,943,588&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;424,660,265&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Current portion of long-term debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;42,614,213&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;75,546,625&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Long term debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;282,889,640&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;349,113,640&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;325,503,853&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;424,660,265&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Current portion of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;488,551&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;618,174&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Deferred finance charges non-current&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,032,992&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,879,537&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,521,543&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,497,711&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;325,503,853&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;424,660,265&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;5&quot; style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Less: Total deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,521,543&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,497,711&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total&amp;nbsp;&amp;nbsp;debt, net of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;323,982,310&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;422,162,554&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Less: Current portion of long-term debt, net of current portion of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;42,125,662&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;74,928,451&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Long term debt, net of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;281,856,648&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;347,234,103&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On December 20, 2013 the Company entered into a term loan with a bank institution to partially finance the acquisition of four LPG carriers under construction, in an amount equal to (i) the lesser of $67,200,000 or 70% of the fair market value of the vessels subject to the Minimum Employment Condition being met at the delivery date of each vessel or (ii) the lesser of $62,400,000 or 65% of the fair market value of the vessels if the Minimum Employment Condition will not be met at the delivery date of each vessel. The term loan will be drawn down in four tranches upon the delivery of each vessel. The first and second tranche amounting to $16,000,000 each were drawn down on September&amp;nbsp;14, 2015 and September&amp;nbsp;30, 2015, respectively. As of December 31, 2015, the remaining tranches had not been drawn down.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On March 24, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of three LPG carriers under construction, named &amp;#x201c;Eco Stream&amp;#x201d;, &amp;#x201c;Eco Chios&amp;#x201d; and &amp;#x201c;Eco Galaxy&amp;#x201d;, respectively, by three of the Company&amp;#x2019;s wholly owned subsidiaries. The term loan was drawn down in three tranches upon the delivery of each vessel. The first and second tranche amounting to $17,150,000 each were drawn down on March&amp;nbsp;31, 2014 and on June&amp;nbsp;30, 2014, respectively, and the third tranche amounting to $15,925,000 was drawn down on July&amp;nbsp;31, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On April 14, 2014, the Company entered into a facility agreement with a bank to refinance the existing term loan dated February 18, 2009. The term loan is up to $20,400,000 and was drawn down in one tranche at the signing date of the facility agreement.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On April 16, 2014, the Company entered into a facility agreement with a bank to partially finance the acquisition of one LPG carrier on its delivery and to refinance the existing term loan dated June 25, 2009. The term loan was up to $30,000,000 and was drawn down in three tranches. The two tranches amounting to $14,250,000 were drawn down on April 25, 2014 and the third tranche amounting to $15,750,000 was drawn down on April 21, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On June 12, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of one LPG carrier under construction, named &amp;#x201c;Eco Invictus&amp;#x201d;, by one of the Company&amp;#x2019;s wholly owned subsidiary. The term loan, amounting to $13,000,000, was drawn down on October 1, 2014 in one tranche.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On June 20, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction, named &amp;#x201c;Eco Corsair&amp;#x201d; and &amp;#x201c;Eco Elysium&amp;#x201d;, respectively, by two of the Company&amp;#x2019;s wholly owned subsidiaries. The term loan amounting to $20,925,000 was drawn down on January 8, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On July 4, 2014, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction on their delivery. The term loan is up to $22,750,000 and was drawn down in two tranches upon the delivery of each vessel. The first and second tranche amounting to $11,375,000 each were drawn down on August&amp;nbsp;4, 2015 and on September&amp;nbsp;3, 2015, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On July 29, 2014, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction on their delivery. The term loan amounting to $25,350,000 was drawn down in one tranche on July 7, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On March 27, 2015, the Company voluntary repaid the outstanding balance of the term loan dated May 17, 2006, amounting to $13,500,000.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On December 24, 2015, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction on their delivery. The term loan amounting to $22,400,000 was drawn down in one tranche on December 30, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The above loans are generally repayable in quarterly or semi-annual installments and a balloon payment at maturity and are secured by first priority mortgages over the vessels involved, plus the assignment of the vessels&amp;#x2019; insurances, earnings and operating and retention accounts with the lenders, and the guarantee of ship-owning companies, as owners of the vessels. The term loans contain financial covenants requiring the Company to ensure that:&lt;/p&gt;&lt;br/&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;width: 100%; border-collapse: collapse; font-size: 10pt&quot;&gt;

     &lt;tr&gt;
      &lt;td style=&quot;text-align: center; width: 6%; vertical-align: top&quot;&gt;&amp;#x2022;&lt;/td&gt;
      &lt;td style=&quot;vertical-align: middle; text-align: justify; width: 94%&quot;&gt;the aggregate market value of the mortgaged vessels at all times exceeds a certain percentage of the amounts outstanding as defined in the term loans, ranging from 125% to 130%,&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr&gt;
      &lt;td style=&quot;text-align: center; vertical-align: top&quot;&gt;&amp;#x2022;&lt;/td&gt;
      &lt;td style=&quot;vertical-align: middle; text-align: justify&quot;&gt;the leverage of the Company defined as Total Debt net of Cash should not exceed 80% of total market value adjusted assets,&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr&gt;
      &lt;td style=&quot;text-align: center; vertical-align: top&quot;&gt; &amp;#x2022;&lt;/td&gt;
      &lt;td style=&quot;vertical-align: middle; text-align: justify&quot;&gt;the Interest Coverage Ratio of the Company defined as EBITDA to interest expense to be at all times greater than to 2.5:1,&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr&gt;
      &lt;td style=&quot;text-align: center; vertical-align: top&quot;&gt;&amp;nbsp;&amp;#x2022;&lt;/td&gt;
      &lt;td style=&quot;vertical-align: middle; text-align: justify&quot;&gt;at least a certain percentage of the Company is to always be owned by members of the Vafias family,&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr&gt;
      &lt;td style=&quot;text-align: center; vertical-align: top&quot;&gt;&amp;nbsp;&amp;#x2022;&lt;/td&gt;
      &lt;td style=&quot;vertical-align: middle; text-align: justify&quot;&gt;the Company should maintain on a monthly basis a cash balance of a proportionate amount of the next installment and relevant interest plus a minimum aggregate cash balance of $5,146,877 in the earnings account with the relevant banks,&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr&gt;
      &lt;td style=&quot;text-align: center; vertical-align: top&quot;&gt;&amp;nbsp;&amp;#x2022;&lt;/td&gt;
      &lt;td style=&quot;vertical-align: middle; text-align: justify&quot;&gt;dividends paid by the borrower will not exceed 50% of the Company&amp;#x2019;s free cash flow in any rolling 12&amp;nbsp;month period.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The interest rates on the outstanding loans as of December&amp;nbsp;31, 2015 are based on Libor plus a margin which varies from 0.70% to 3.00%. The average interest rates (including the margin) on the above outstanding loans for the applicable periods were:&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;Year ended December&amp;nbsp;31, 2013: 2.23%&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;Year ended December&amp;nbsp;31, 2014: 2.28%&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0 0pt 24.45pt&quot;&gt;Year ended December&amp;nbsp;31, 2015: 2.67%&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Bank loan interest expense for the above loans for the years ended December&amp;nbsp;31, 2013, 2014 and 2015 amounted to $7,997,247, $8,746,786 and $10,175,944, respectively. Of these amounts, for the years ended December&amp;nbsp;31, 2013, 2014 and 2015, the amounts of $819,296, $2,113,297 and $1,822,443, respectively, were capitalized as part of advances paid for vessels under construction. Interest expense, net of interest capitalized, is included in interest and finance costs in the consolidated statements of income.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;At December&amp;nbsp;31, 2015, the Company was in compliance with all of its debt financial covenants.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The aggregate available unused amounts under these facilities at December 31, 2015 were $33,600,000 and the Company is required to pay a quarterly commitment fee of 0.80% per annum of the unutilized portion of the line of credit.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The annual principal payments to be made, for the abovementioned loans, after December&amp;nbsp;31, 2015 are as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 90%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Amount&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 83%; font-size: 10pt; text-align: left&quot;&gt;2016 &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;75,546,625&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2017 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;49,251,665&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2018 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;58,462,415&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2019 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;29,887,415&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2020 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;105,420,661&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; text-align: left&quot;&gt;Thereafter &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;106,091,485&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;424,660,265&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c86_From1Dec2013To20Dec2013_ConditionMetAtDeliveryMember_LesserOfMember" decimals="0">67200000</us-gaap:ProceedsFromIssuanceOfDebt>
  <gass:PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition unitRef="pure" contextRef="c86_From1Dec2013To20Dec2013_ConditionMetAtDeliveryMember_LesserOfMember" decimals="2">0.70</gass:PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c87_From1Dec2013To20Dec2013_ConditionNotBeingMetMember_LesserOfMember" decimals="0">62400000</us-gaap:ProceedsFromIssuanceOfDebt>
  <gass:PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition unitRef="pure" contextRef="c87_From1Dec2013To20Dec2013_ConditionNotBeingMetMember_LesserOfMember" decimals="2">0.65</gass:PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c88_From14Sep2015To14Sep2015_FirstTrancheMember_TermLoanEnteredIntoOnDecember202013Member" decimals="0">16000000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c89_From30Sep2015To30Sep2015_SecondTrancheMember_TermLoanEnteredIntoOnDecember202013Member" decimals="0">16000000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c90_From31Mar2014To31Mar2014_FirstTrancheMember_TermLoanWithBankMarch242014Member" decimals="0">17150000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c91_From30Jun2014To30Jun2014_SecondTrancheMember_TermLoanWithBankMarch242014Member" decimals="0">17150000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c92_From31Jul2015To31Jul2015_ThirdTrancheMember_TermLoanWithBankMarch242014Member" decimals="0">15925000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:AggregateIndebtedness unitRef="usd" contextRef="c93_AsOf14Apr2014_SecondFacilityAgreeementWithBankMember_LPGVesselsMember" decimals="0">20400000</us-gaap:AggregateIndebtedness>
  <us-gaap:AggregateIndebtedness unitRef="usd" contextRef="c94_AsOf16Apr2014_FirstFacilityAgreementWithABankMember_LPGVesselsMember_MaximumMember" decimals="0">30000000</us-gaap:AggregateIndebtedness>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c95_From25Apr2014To25Apr2014_FirstFacilityAgreementWithABankMember_TwoOfThreeTranchesMember_LPGVesselsMember" decimals="0">14250000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c96_From21Apr2015To21Apr2015_FirstFacilityAgreementWithABankMember_ThirdTrancheMember_LPGVesselsMember" decimals="0">15750000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c97_From1Oct2014To1Oct2014_EcoInvictusTermLoanMember" decimals="0">13000000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c98_From8Jan2015To8Jan2015_TermLoan17Member" decimals="0">20925000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:LoansPayableToBank unitRef="usd" contextRef="c99_AsOf4Jul2014_July42014TermLoanMember" decimals="0">22750000</us-gaap:LoansPayableToBank>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c100_From4Aug2015To4Aug2015_FirstTrancheMember_July42014TermLoanMember" decimals="0">11375000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c101_From3Sep2015To3Sep2015_SecondTrancheMember_July42014TermLoanMember" decimals="0">11375000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c102_From7Jul2015To7Jul2015_FirstTrancheMember_TermLoan21Member" decimals="0">25350000</us-gaap:ProceedsFromIssuanceOfDebt>
  <us-gaap:RepaymentsOfDebt unitRef="usd" contextRef="c103_From27Mar2015To27Mar2015_TermLoan2Member" decimals="0">13500000</us-gaap:RepaymentsOfDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c104_From30Dec2015To30Dec2015_FirstTrancheMember_TermLoan19Member" decimals="0">22400000</us-gaap:ProceedsFromIssuanceOfDebt>
  <gass:ValueToLoanRatio unitRef="pure" contextRef="c105_From1Jan2015To31Dec2015_TermLoanMember_MinimumMember" decimals="2">1.25</gass:ValueToLoanRatio>
  <gass:ValueToLoanRatio unitRef="pure" contextRef="c106_From1Jan2015To31Dec2015_TermLoanMember_MaximumMember" decimals="2">1.30</gass:ValueToLoanRatio>
  <gass:PercentageOfTotalDebtToTotalMarketValueAdjustedAssets unitRef="pure" contextRef="c107_From1Jan2015To31Dec2015_NotToExceedMember" decimals="2">0.80</gass:PercentageOfTotalDebtToTotalMarketValueAdjustedAssets>
  <gass:EBITDAToInterestExpense contextRef="c108_From1Jan2015To31Dec2015_NumeratorMember">2.5</gass:EBITDAToInterestExpense>
  <gass:TermLoanFinancialCovenantsCashRequirement unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">5146877</gass:TermLoanFinancialCovenantsCashRequirement>
  <gass:PercentageOfDividendsPaidToFreeCashFlow unitRef="pure" contextRef="c4_From1Jan2015To31Dec2015" decimals="2">0.50</gass:PercentageOfDividendsPaidToFreeCashFlow>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 unitRef="pure" contextRef="c109_From1Jan2015To31Dec2015_MinimumMember" decimals="4">0.0070</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 unitRef="pure" contextRef="c110_From1Jan2015To31Dec2015_MaximumMember" decimals="4">0.0300</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:DebtWeightedAverageInterestRate unitRef="pure" contextRef="c20_AsOf31Dec2013" decimals="4">0.0223</us-gaap:DebtWeightedAverageInterestRate>
  <us-gaap:DebtWeightedAverageInterestRate unitRef="pure" contextRef="c0_AsOf31Dec2014" decimals="4">0.0228</us-gaap:DebtWeightedAverageInterestRate>
  <us-gaap:DebtWeightedAverageInterestRate unitRef="pure" contextRef="c1_AsOf31Dec2015" decimals="4">0.0267</us-gaap:DebtWeightedAverageInterestRate>
  <us-gaap:InterestExpenseDebt unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">7997247</us-gaap:InterestExpenseDebt>
  <us-gaap:InterestExpenseDebt unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">8746786</us-gaap:InterestExpenseDebt>
  <us-gaap:InterestExpenseDebt unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">10175944</us-gaap:InterestExpenseDebt>
  <us-gaap:InterestCostsCapitalized unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">819296</us-gaap:InterestCostsCapitalized>
  <us-gaap:LineOfCredit unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">33600000</us-gaap:LineOfCredit>
  <gass:QuarterlyCommitmentFeePercentage unitRef="pure" contextRef="c4_From1Jan2015To31Dec2015" decimals="4">0.0080</gass:QuarterlyCommitmentFeePercentage>
  <us-gaap:ScheduleOfDebtTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Term Loans&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Original&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 31,&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Movement in 2015&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 31,&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Issue Date&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Maturity Date&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Amount&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Additions&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Repayments&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2015&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 5, 2005&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 9, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;100,067,500&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;13,816,882&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(5,029,852&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 11%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;8,787,030&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;May 17, 2006&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;May 30, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;79,850,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;14,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(14,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 6, 2006&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 28, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;6,580,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,763,440&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(473,760&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,289,680&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 21, 2007&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 21, 2017&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;49,875,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,365,764&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(4,869,014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;17,496,750&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;February 12, 2008&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;February 19, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;40,250,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,875,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(2,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,375,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 30, 2008&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;November 4, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;33,240,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,606,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(1,939,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,667,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;October 9, 2008&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;October 9, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;29,437,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;8,650,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(780,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;7,870,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;January 30, 2009&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 15, 2016&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;45,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;30,550,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;27,150,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 14, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 14, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;20,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,300,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(2,200,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;17,100,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;February 1, 2011&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 1, 2018&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;49,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;37,850,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,300,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;34,550,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;March 1, 2011&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 20, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;43,250,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;35,375,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;32,375,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 23, 2013&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 30, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;45,212,500&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;38,896,767&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(5,052,587&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;33,844,180&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;March 24, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 30, 2021&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;50,225,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;33,040,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;15,925,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(2,520,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;46,445,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 16, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;April 16, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;30,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,915,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;15,750,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(3,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;25,665,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 12, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;October 2, 2020&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;13,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;13,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(880,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,120,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;June 20, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;January 8, 2023&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;20,925,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;20,925,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(1,065,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;19,860,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 20, 2013&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;November 16, 2022&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;67,200,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;32,000,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;31,500,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 24, 2015&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;December 14, 2022&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,400,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 4, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;September 3, 2021&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,750,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,750,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(406,250&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;22,343,750&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 29, 2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;July 7, 2023&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;25,350,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;-&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;25,350,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(528,125&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;24,821,875&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;325,503,853&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;155,100,000&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(55,943,588&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;424,660,265&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: center&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Current portion of long-term debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;42,614,213&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;75,546,625&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Long term debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;282,889,640&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;349,113,640&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;325,503,853&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;424,660,265&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Current portion of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;488,551&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;618,174&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Deferred finance charges non-current&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,032,992&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,879,537&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,521,543&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,497,711&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total debt&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;325,503,853&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;424,660,265&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;5&quot; style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Less: Total deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;1,521,543&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,497,711&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Total&amp;nbsp;&amp;nbsp;debt, net of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;323,982,310&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;422,162,554&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Less: Current portion of long-term debt, net of current portion of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;42,125,662&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;74,928,451&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td colspan=&quot;6&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Long term debt, net of deferred finance charges&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;281,856,648&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c147_From1Jan2015To31Dec2015_TermLoan14Member">2021-06-30</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c153_From1Jan2015To31Dec2015_TermLoan16Member">2020-10-02</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:RepaymentsOfDebt unitRef="usd" contextRef="c153_From1Jan2015To31Dec2015_TermLoan16Member" decimals="0">880000</us-gaap:RepaymentsOfDebt>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c156_From1Jan2015To31Dec2015_TermLoan17Member">2023-01-08</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c158_From1Jan2015To31Dec2015_TermLoan18Member">2022-11-16</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c160_From1Jan2015To31Dec2015_TermLoan19Member">2022-12-14</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c162_From1Jan2015To31Dec2015_TermLoan20Member">2021-09-03</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="c164_From1Jan2015To31Dec2015_TermLoan21Member">2023-07-07</us-gaap:DebtInstrumentMaturityDate>
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  <us-gaap:RepaymentsOfDebt unitRef="usd" contextRef="c164_From1Jan2015To31Dec2015_TermLoan21Member" decimals="0">528125</us-gaap:RepaymentsOfDebt>
  <us-gaap:LongTermDebt unitRef="usd" contextRef="c165_AsOf31Dec2015_TermLoan21Member" decimals="0">24821875</us-gaap:LongTermDebt>
  <us-gaap:LongTermDebt unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">325503853</us-gaap:LongTermDebt>
  <us-gaap:ProceedsFromIssuanceOfDebt unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">155100000</us-gaap:ProceedsFromIssuanceOfDebt>
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  <us-gaap:LongTermDebt unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">424660265</us-gaap:LongTermDebt>
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  <gass:LongTermDebtCurrentMaturitiesBeforeFinancingCharges unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">75546625</gass:LongTermDebtCurrentMaturitiesBeforeFinancingCharges>
  <gass:LongTermDebtNonCurrentBeforeFinancingCharges unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">282889640</gass:LongTermDebtNonCurrentBeforeFinancingCharges>
  <gass:LongTermDebtNonCurrentBeforeFinancingCharges unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">349113640</gass:LongTermDebtNonCurrentBeforeFinancingCharges>
  <gass:LongTermDebtBeforeDeferredFinancingCharges unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">325503853</gass:LongTermDebtBeforeDeferredFinancingCharges>
  <gass:LongTermDebtBeforeDeferredFinancingCharges unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">424660265</gass:LongTermDebtBeforeDeferredFinancingCharges>
  <us-gaap:DeferredFinanceCostsCurrentNet unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">488551</us-gaap:DeferredFinanceCostsCurrentNet>
  <us-gaap:DeferredFinanceCostsCurrentNet unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">618174</us-gaap:DeferredFinanceCostsCurrentNet>
  <us-gaap:DeferredFinanceCostsNet unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">1521543</us-gaap:DeferredFinanceCostsNet>
  <us-gaap:DeferredFinanceCostsNet unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">2497711</us-gaap:DeferredFinanceCostsNet>
  <us-gaap:DebtLongtermAndShorttermCombinedAmount unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">323982310</us-gaap:DebtLongtermAndShorttermCombinedAmount>
  <us-gaap:DebtLongtermAndShorttermCombinedAmount unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">422162554</us-gaap:DebtLongtermAndShorttermCombinedAmount>
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       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Amount&lt;/td&gt;
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      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 83%; font-size: 10pt; text-align: left&quot;&gt;2016 &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;75,546,625&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2017 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;49,251,665&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2018 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;58,462,415&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2019 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;29,887,415&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;2020 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;105,420,661&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; text-align: left&quot;&gt;Thereafter &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;106,091,485&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;424,660,265&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">75546625</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">49251665</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">58462415</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">29887415</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">105420661</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">106091485</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;12.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Derivatives and Fair Value Disclosures&lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company uses interest rate swaps for the management of interest rate risk exposure. The interest rate swaps effectively convert a portion of the Company&amp;#x2019;s debt from a floating to a fixed rate. The Company is a party to seven floating-to-fixed interest rate swaps with various major financial institutions covering notional amounts aggregating approximately $92,182,741 at December&amp;nbsp;31, 2015 (2014: $48,692,694) pursuant to which it pays fixed rates ranging from 1.52% to 4.73% and receives floating rates based on the London Interbank Offered Rate (&amp;#x201c;LIBOR&amp;#x201d;) (approximately 0.38% at December&amp;nbsp;31, 2015). These agreements contain no leverage features and have maturity dates ranging from March 2016 to September 2021. As of December 31, 2015 five derivative contracts qualify for hedge accounting since their inception (2014: one derivative contract).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On April 10, 2014, the Company as a condition of its term loan dated September 23, 2013, entered into an amortizing interest rate swap agreement for a notional amount of $17,553,663. The agreement is effective from September 30, 2015 and expires on September 30, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 2.60%.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On July 6, 2015, the Company as a condition of its term loan dated September 23, 2013, entered into an amortizing interest rate swap agreement for a notional amount of $17,553,663. The agreement is effective from September 30, 2015 and expires on September 30, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.69%.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On September 22, 2015, the Company as a condition of its term loan dated June 12, 2014, entered into an amortizing interest rate swap agreement for a notional amount of $12,120,000. The agreement is effective from October 2, 2015 and expires on October 2, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.54%.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On October 13, 2015, the Company as a condition of its term loan dated July 4, 2014, entered into two amortizing interest rate swap agreements for a notional amount of $11,171,875 each. The first agreement is effective from November 4, 2015 and expires on August 4, 2021 and the second agreement is effective from December 3, 2015 and expires on September 3, 2021; under these agreements the Company receives each quarter interest on the notional amounts based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.52% and 1.55%, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company enters into foreign currency forward contracts in order to manage risks associated with fluctuations in foreign currencies. During 2014, the Company entered into a series of foreign currency forward contracts to hedge part of its exposure to fluctuations of its anticipated cash payments in Japanese Yen relating to certain vessels under construction. Under the contracts the Company converted U.S. dollars to approximately JPY400 million of cash outflows in 2014 and to approximately JPY500 million of cash outflows in 2015. As of and for the year ended December 31, 2013, there were no such contracts. In addition, no such contracts were entered into during the year ended December 31, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The following tables present information on the location and amounts of derivatives&amp;#x2019; fair values reflected in the consolidated balance sheets and with respect to gains and losses on derivative positions reflected in the consolidated statements of income or in the consolidated balance sheets, as a component of accumulated other comprehensive income/(loss).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Tabular disclosure of financial instruments is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;15&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives designated as &lt;br /&gt; hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Balance&amp;nbsp;Sheet&amp;nbsp;Location&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 26%; font-size: 10pt; text-align: left; vertical-align: top&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 16%; font-size: 10pt; text-align: left&quot;&gt;Non current assets &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt; vertical-align: top&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Non current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;384,589&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;681,197&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;Total derivatives designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;384,589&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;681,197&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;15&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives not designated as &lt;br /&gt; hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Balance&amp;nbsp;Sheet&amp;nbsp;Location&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 26%; font-size: 10pt; text-align: left&quot;&gt;Forward Currency Contract&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 16%; font-size: 10pt; text-align: left&quot;&gt;Current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;583,368&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;297,656&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Non current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,488,706&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;Total derivatives not designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;2,072,074&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;297,656&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The effect of derivative instruments on the consolidated statements of income for the years ended December&amp;nbsp;31, 2013, 2014 and 2015 is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year Ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives not designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Location&amp;nbsp;of&amp;nbsp;Gain/(Loss)&amp;nbsp;Recognized&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 36%; font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap &amp;#x2014; Reclassification from OCI&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;67,849&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;(49,471&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap &amp;#x2014; Change in Fair Value&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,716,274&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,652,692&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,191,050&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap &amp;#x2014; Realized loss &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(2,811,593&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,857,362&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,243,359&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Foreign Currency Contract &amp;#x2014; Change in Fair Value &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(583,368&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;583,368&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Foreign Currency Contract &amp;#x2014; Realized loss.. &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(510,875&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(669,712&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total loss on derivatives &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(27,470&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(1,348,384&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(138,653&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year Ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Location&amp;nbsp;of&amp;nbsp; Loss&amp;nbsp;Recognized&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 36%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;Interest Rate Swap &amp;#x2014; Loss reclassified from OCI (Effective portion)&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(231,931&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(231,931&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;The components of accumulated other comprehensive income/(loss) included in the accompanying consolidated balance sheets consist of unrealized gain / (loss) on cash flow hedges and are analyzed as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;Unrealized Gain / (Loss) on cash flow hedges&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 84%; font-size: 10pt; text-align: left&quot;&gt;Balance, January 1, 2013&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;18,378&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Reclassification adjustment&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(67,849&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Balance, December 31, 2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(49,471&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Effective portion of changes in fair value of interest swap contracts&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(293,020&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Reclassification adjustment&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;49,471&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Balance, December 31, 2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(293,020&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Effective portion of changes in fair value of interest swap contracts&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(100,268&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-style: normal; text-align: left; padding-bottom: 2.25pt&quot;&gt;Balance, December 31, 2015&lt;font style=&quot;font-size: 10pt; font-style: normal&quot;&gt;&lt;b&gt;&amp;nbsp;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(393,288&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;During the year ended 2013 the gain transferred from accumulated other comprehensive income/(loss) to the statement of income was $67,849 and during the year ended December&amp;nbsp;31, 2014, the loss transferred from accumulated other comprehensive income/(loss) to the statement of income was $49,471. No transfer took place during the year ended December 31, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Fair Value of Financial Instruments and Concentration of Credit Risk:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents, restricted cash, receivables from related party, trade and other receivables, claims receivable, payable to related party, trade accounts payable and accrued liabilities. The Company limits its credit risk with respect to accounts receivable by performing ongoing credit evaluations of its customers&amp;#x2019; financial condition and generally does not require collateral for its trade accounts receivable. The Company places its cash and cash equivalents, time deposits and other investments with high credit quality financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions. The Company is exposed to credit risk in the event of non-performance by its counterparties to derivative instruments; however, the Company limits its exposure by transacting with counterparties with high credit ratings. The carrying values of cash and cash equivalents, restricted cash, receivables from related party, trade and other receivables, claims receivable, payable to related party, trade accounts payable and accrued liabilities are reasonable estimates of their fair value due to the short term nature of these financial instruments. Cash and cash equivalents and restricted cash are considered Level 1 items as they represent liquid assets with short-term maturities. The fair value of long term bank loans is estimated based on current rates offered to the Company for similar debt of the same remaining maturities. Their carrying value approximates their fair market value due to their variable interest rate, being LIBOR. LIBOR rates are observable at commonly quoted intervals for the full terms of the loans and hence floating rate loans are considered Level 2 items in accordance with the fair value hierarchy. Additionally, the Company considers the creditworthiness of each counterparty when determining the fair value of the credit facilities. The Company&amp;#x2019;s interest rate swap agreements are recorded at fair value. The fair value of the interest rate swaps is determined using a discounted cash flow method based on market-based LIBOR swap yield curves. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swap and therefore are considered Level 2 items.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&lt;b&gt;&lt;i&gt;Fair Value Disclosures:&lt;/i&gt;&lt;/b&gt;&amp;nbsp;The Company has categorized assets and liabilities recorded at fair value based upon the fair value hierarchy specified by the guidance. The levels of fair value hierarchy are as follows:&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Level&amp;nbsp;1:&amp;nbsp;Quoted market prices in active markets for identical assets or liabilities.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Level&amp;nbsp;2:&amp;nbsp;Observable market based inputs or unobservable inputs that are corroborated by market data.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Level&amp;nbsp;3:&amp;nbsp;Unobservable inputs that are not corroborated by market data.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The following table presents the fair values for assets and liabilities measured on a recurring basis categorized into a Level based upon the lowest level of significant input to the valuations as of December&amp;nbsp;31, 2014:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs&lt;br /&gt; (Level 3)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Liabilities:&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;width: 48%; font-size: 10pt; text-align: left&quot;&gt;Foreign Currency Contract&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;(583,368&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;(583,368&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(1,873,295&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(1,873,295&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(2,456,663&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(2,456,663&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The following table presents the fair values for assets and liabilities measured on a recurring basis categorized into a Level based upon the lowest level of significant input to the valuations as of December&amp;nbsp;31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2015&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs&lt;br /&gt; (Level 3)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Assets/(Liabilities):&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;width: 48%; font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(978,853&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(978,853&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(851,298&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(851,298&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;The following tables summarize the valuation of assets measured at fair value on a non-recurring basis as of the valuation date.&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs &lt;br /&gt; (Level 3)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Impairment Loss&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Long-lived assets held and used&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(6,168,747&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(6,168,747&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;As a result of the impairment analysis performed for the year ended December 31, 2014, two of the Company&apos;s vessels, with a carrying amount of $8,145,798 were written down to their fair value as determined by the Company based on current demolition prices, resulting in an impairment charge of $6,168,747, which was included in the accompanying consolidated statement of income under the caption &amp;#x201c;Impairment loss&amp;#x201d; for the year ended December 31, 2014.&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2015&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs &lt;br /&gt; (Level 3)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Impairment Loss&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Long-lived assets held and used&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(8,238,987&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(8,238,987&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;As a result of the impairment analysis performed for the year ended December 31, 2015, three of the Company&apos;s vessels, with a carrying amount of $15,828,908 were written down to their fair value as determined by the Company based on current demolition prices obtained from independent third party shipbrokers, for two of the vessels and based on vessel valuations for one of the vessels, obtained from independent third party shipbrokers as of December 31, 2015, which are mainly based on recent sales and purchase transactions of similar vessels, resulting in an impairment charge of $8,238,987. This impairment charge was included in the accompanying consolidated statement of income under the caption &amp;#x201c;Impairment loss&amp;#x201d; for the year ended December 31, 2015.&lt;/p&gt;&lt;br/&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">92182741</invest:DerivativeNotionalAmount>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">48692694</invest:DerivativeNotionalAmount>
  <gass:InterestRateSwapFixedRate unitRef="pure" contextRef="c109_From1Jan2015To31Dec2015_MinimumMember" decimals="4">0.0152</gass:InterestRateSwapFixedRate>
  <gass:InterestRateSwapFixedRate unitRef="pure" contextRef="c110_From1Jan2015To31Dec2015_MaximumMember" decimals="4">0.0473</gass:InterestRateSwapFixedRate>
  <gass:DerivativeReferenceRateLIBOR unitRef="pure" contextRef="c1_AsOf31Dec2015" decimals="4">0.0038</gass:DerivativeReferenceRateLIBOR>
  <us-gaap:DerivativeNumberOfInstrumentsHeld unitRef="pure" contextRef="c166_AsOf31Dec2015_DesignatedAsHedgingInstrumentMember" decimals="0">5</us-gaap:DerivativeNumberOfInstrumentsHeld>
  <us-gaap:DerivativeNumberOfInstrumentsHeld unitRef="pure" contextRef="c167_AsOf31Dec2014_DesignatedAsHedgingInstrumentMember" decimals="0">1</us-gaap:DerivativeNumberOfInstrumentsHeld>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c168_AsOf10Apr2014_InterestRateSwapMember" decimals="0">17553663</invest:DerivativeNotionalAmount>
  <us-gaap:DerivativeFixedInterestRate unitRef="pure" contextRef="c168_AsOf10Apr2014_InterestRateSwapMember" decimals="4">0.0260</us-gaap:DerivativeFixedInterestRate>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c169_AsOf6Jul2015_InterestRateSwapMember" decimals="0">17553663</invest:DerivativeNotionalAmount>
  <us-gaap:DerivativeFixedInterestRate unitRef="pure" contextRef="c169_AsOf6Jul2015_InterestRateSwapMember" decimals="4">0.0169</us-gaap:DerivativeFixedInterestRate>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c170_AsOf22Sep2015_InterestRateSwapMember" decimals="0">12120000</invest:DerivativeNotionalAmount>
  <us-gaap:DerivativeFixedInterestRate unitRef="pure" contextRef="c170_AsOf22Sep2015_InterestRateSwapMember" decimals="4">0.0154</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeNumberOfInstrumentsHeld unitRef="pure" contextRef="c171_AsOf13Oct2015_InterestRateSwapMember" decimals="0">2</us-gaap:DerivativeNumberOfInstrumentsHeld>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c172_AsOf13Oct2015_Swap1Member_InterestRateSwapMember" decimals="0">11171875</invest:DerivativeNotionalAmount>
  <invest:DerivativeNotionalAmount unitRef="usd" contextRef="c173_AsOf13Oct2015_Swap2Member_InterestRateSwapMember" decimals="0">11171875</invest:DerivativeNotionalAmount>
  <us-gaap:DerivativeFixedInterestRate unitRef="pure" contextRef="c172_AsOf13Oct2015_Swap1Member_InterestRateSwapMember" decimals="4">0.0152</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeFixedInterestRate unitRef="pure" contextRef="c173_AsOf13Oct2015_Swap2Member_InterestRateSwapMember" decimals="4">0.0155</us-gaap:DerivativeFixedInterestRate>
  <gass:ForeignCurrencyForwardContractsConvertedAmount unitRef="jpy" contextRef="c3_From1Jan2014To31Dec2014" decimals="-6">400000000</gass:ForeignCurrencyForwardContractsConvertedAmount>
  <gass:ForeignCurrencyForwardContractsConvertedAmount unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">0</gass:ForeignCurrencyForwardContractsConvertedAmount>
  <gass:ForeignCurrencyForwardContractsConvertedAmount unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">0</gass:ForeignCurrencyForwardContractsConvertedAmount>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">67849</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">-49471</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">0</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI>
  <gass:ImpairedLongLivedAssetsPreImpairmentCarryingValue unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">8145798</gass:ImpairedLongLivedAssetsPreImpairmentCarryingValue>
  <gass:ImpairedLongLivedAssetsPreImpairmentCarryingValue unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">15828908</gass:ImpairedLongLivedAssetsPreImpairmentCarryingValue>
  <us-gaap:ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;15&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives designated as &lt;br /&gt; hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Balance&amp;nbsp;Sheet&amp;nbsp;Location&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 26%; font-size: 10pt; text-align: left; vertical-align: top&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 16%; font-size: 10pt; text-align: left&quot;&gt;Non current assets &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt; vertical-align: top&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Non current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;384,589&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;681,197&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;Total derivatives designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;384,589&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;681,197&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;15&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;7&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives not designated as &lt;br /&gt; hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Balance&amp;nbsp;Sheet&amp;nbsp;Location&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Asset Derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Liability Derivatives&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 26%; font-size: 10pt; text-align: left&quot;&gt;Forward Currency Contract&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 16%; font-size: 10pt; text-align: left&quot;&gt;Current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;583,368&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;297,656&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Non current liabilities &amp;#x2014; Fair value of derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,488,706&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;Total derivatives not designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;2,072,074&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;297,656&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock>
  <us-gaap:DerivativeAssetsNoncurrent unitRef="usd" contextRef="c174_AsOf31Dec2015_InterestRateSwapMember_DesignatedAsHedgingInstrumentMember" decimals="0">127555</us-gaap:DerivativeAssetsNoncurrent>
  <us-gaap:DerivativeLiabilitiesNoncurrent unitRef="usd" contextRef="c175_AsOf31Dec2014_InterestRateSwapMember_DesignatedAsHedgingInstrumentMember" decimals="0">384589</us-gaap:DerivativeLiabilitiesNoncurrent>
  <us-gaap:DerivativeLiabilitiesNoncurrent unitRef="usd" contextRef="c174_AsOf31Dec2015_InterestRateSwapMember_DesignatedAsHedgingInstrumentMember" decimals="0">681197</us-gaap:DerivativeLiabilitiesNoncurrent>
  <us-gaap:DerivativeLiabilities unitRef="usd" contextRef="c167_AsOf31Dec2014_DesignatedAsHedgingInstrumentMember" decimals="0">384589</us-gaap:DerivativeLiabilities>
  <us-gaap:DerivativeAssets unitRef="usd" contextRef="c166_AsOf31Dec2015_DesignatedAsHedgingInstrumentMember" decimals="0">127555</us-gaap:DerivativeAssets>
  <us-gaap:DerivativeLiabilities unitRef="usd" contextRef="c166_AsOf31Dec2015_DesignatedAsHedgingInstrumentMember" decimals="0">681197</us-gaap:DerivativeLiabilities>
  <us-gaap:DerivativeLiabilitiesCurrent unitRef="usd" contextRef="c176_AsOf31Dec2014_ForeignExchangeForwardMember_NondesignatedMember" decimals="0">583368</us-gaap:DerivativeLiabilitiesCurrent>
  <us-gaap:DerivativeLiabilitiesCurrent unitRef="usd" contextRef="c177_AsOf31Dec2015_InterestRateSwapMember_NondesignatedMember" decimals="0">297656</us-gaap:DerivativeLiabilitiesCurrent>
  <us-gaap:DerivativeLiabilitiesNoncurrent unitRef="usd" contextRef="c178_AsOf31Dec2014_InterestRateSwapMember_NondesignatedMember" decimals="0">1488706</us-gaap:DerivativeLiabilitiesNoncurrent>
  <us-gaap:DerivativeLiabilities unitRef="usd" contextRef="c179_AsOf31Dec2014_NondesignatedMember" decimals="0">2072074</us-gaap:DerivativeLiabilities>
  <us-gaap:DerivativeLiabilities unitRef="usd" contextRef="c180_AsOf31Dec2015_NondesignatedMember" decimals="0">297656</us-gaap:DerivativeLiabilities>
  <us-gaap:ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year Ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives not designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Location&amp;nbsp;of&amp;nbsp;Gain/(Loss)&amp;nbsp;Recognized&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 36%; font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap &amp;#x2014; Reclassification from OCI&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;67,849&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;(49,471&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap &amp;#x2014; Change in Fair Value&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,716,274&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,652,692&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,191,050&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap &amp;#x2014; Realized loss &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(2,811,593&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,857,362&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(1,243,359&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Foreign Currency Contract &amp;#x2014; Change in Fair Value &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(583,368&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;583,368&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Foreign Currency Contract &amp;#x2014; Realized loss.. &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(510,875&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(669,712&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total loss on derivatives &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(27,470&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(1,348,384&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(138,653&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year Ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Derivatives designated as hedging instruments&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center&quot;&gt;Location&amp;nbsp;of&amp;nbsp; Loss&amp;nbsp;Recognized&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 36%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;Interest Rate Swap &amp;#x2014; Loss reclassified from OCI (Effective portion)&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(231,931&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total loss on derivatives&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(231,931&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI unitRef="usd" contextRef="c181_From1Jan2013To31Dec2013_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">67849</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI unitRef="usd" contextRef="c182_From1Jan2014To31Dec2014_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">-49471</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain unitRef="usd" contextRef="c181_From1Jan2013To31Dec2013_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">2716274</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain unitRef="usd" contextRef="c182_From1Jan2014To31Dec2014_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">1652692</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain unitRef="usd" contextRef="c183_From1Jan2015To31Dec2015_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">1191050</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss unitRef="usd" contextRef="c181_From1Jan2013To31Dec2013_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">2811593</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss unitRef="usd" contextRef="c182_From1Jan2014To31Dec2014_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">1857362</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss>
  <gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss unitRef="usd" contextRef="c183_From1Jan2015To31Dec2015_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">1243359</gass:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss unitRef="usd" contextRef="c184_From1Jan2014To31Dec2014_ForeignExchangeFutureMember_OtherComprehensiveIncomeMember" decimals="0">-583368</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss unitRef="usd" contextRef="c185_From1Jan2015To31Dec2015_ForeignExchangeFutureMember_OtherComprehensiveIncomeMember" decimals="0">583368</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss>
  <gass:ForeignCurrencyContractRealizedGainLoss unitRef="usd" contextRef="c184_From1Jan2014To31Dec2014_ForeignExchangeFutureMember_OtherComprehensiveIncomeMember" decimals="0">-510875</gass:ForeignCurrencyContractRealizedGainLoss>
  <gass:ForeignCurrencyContractRealizedGainLoss unitRef="usd" contextRef="c185_From1Jan2015To31Dec2015_ForeignExchangeFutureMember_OtherComprehensiveIncomeMember" decimals="0">-669712</gass:ForeignCurrencyContractRealizedGainLoss>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">-27470</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">-1348384</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet>
  <us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">-138653</us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet>
  <gass:DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI unitRef="usd" contextRef="c183_From1Jan2015To31Dec2015_InterestRateSwapMember_OtherComprehensiveIncomeMember" decimals="0">-231931</gass:DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI>
  <gass:DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">-231931</gass:DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet>
  <us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;Unrealized Gain / (Loss) on cash flow hedges&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 84%; font-size: 10pt; text-align: left&quot;&gt;Balance, January 1, 2013&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 12%; font-size: 10pt; text-align: right&quot;&gt;18,378&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Reclassification adjustment&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(67,849&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Balance, December 31, 2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(49,471&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Effective portion of changes in fair value of interest swap contracts&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(293,020&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Reclassification adjustment&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;49,471&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Balance, December 31, 2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;(293,020&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Effective portion of changes in fair value of interest swap contracts&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(100,268&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-style: normal; text-align: left; padding-bottom: 2.25pt&quot;&gt;Balance, December 31, 2015&lt;font style=&quot;font-size: 10pt; font-style: normal&quot;&gt;&lt;b&gt;&amp;nbsp;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(393,288&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax unitRef="usd" contextRef="c186_AsOf31Dec2012_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">18378</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
  <us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax unitRef="usd" contextRef="c187_From1Jan2013To31Dec2013_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">67849</us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax unitRef="usd" contextRef="c188_AsOf31Dec2013_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">-49471</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
  <us-gaap:OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax unitRef="usd" contextRef="c189_From1Jan2014To31Dec2014_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">-293020</us-gaap:OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax>
  <us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax unitRef="usd" contextRef="c189_From1Jan2014To31Dec2014_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">-49471</us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax unitRef="usd" contextRef="c190_AsOf31Dec2014_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">-293020</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
  <us-gaap:OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax unitRef="usd" contextRef="c191_From1Jan2015To31Dec2015_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">-100268</us-gaap:OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax unitRef="usd" contextRef="c192_AsOf31Dec2015_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" decimals="0">-393288</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs&lt;br /&gt; (Level 3)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Liabilities:&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;width: 48%; font-size: 10pt; text-align: left&quot;&gt;Foreign Currency Contract&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;(583,368&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;(583,368&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(1,873,295&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(1,873,295&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(2,456,663&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(2,456,663&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2015&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs&lt;br /&gt; (Level 3)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Assets/(Liabilities):&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;width: 48%; font-size: 10pt; text-align: left&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;127,555&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Interest Rate Swap Agreements&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(978,853&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(978,853&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(851,298&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(851,298&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
  <us-gaap:InterestRateDerivativeLiabilitiesAtFairValue unitRef="usd" contextRef="c193_AsOf31Dec2014_ForeignExchangeForwardMember_FairValueMeasurementsRecurringMember" decimals="-6">583368000000</us-gaap:InterestRateDerivativeLiabilitiesAtFairValue>
  <us-gaap:InterestRateDerivativeLiabilitiesAtFairValue unitRef="usd" contextRef="c194_AsOf31Dec2014_ForeignExchangeForwardMember_FairValueInputsLevel2Member_FairValueMeasurementsRecurringMember" decimals="-6">583368000000</us-gaap:InterestRateDerivativeLiabilitiesAtFairValue>
  <us-gaap:InterestRateDerivativeLiabilitiesAtFairValue unitRef="usd" contextRef="c195_AsOf31Dec2014_InterestRateSwapMember_FairValueMeasurementsRecurringMember" decimals="-6">1873295000000</us-gaap:InterestRateDerivativeLiabilitiesAtFairValue>
  <us-gaap:InterestRateDerivativeLiabilitiesAtFairValue unitRef="usd" contextRef="c196_AsOf31Dec2014_InterestRateSwapMember_FairValueInputsLevel2Member_FairValueMeasurementsRecurringMember" decimals="-6">1873295000000</us-gaap:InterestRateDerivativeLiabilitiesAtFairValue>
  <us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral unitRef="usd" contextRef="c197_AsOf31Dec2014_FairValueMeasurementsRecurringMember" decimals="-6">2456663000000</us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral>
  <us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral unitRef="usd" contextRef="c198_AsOf31Dec2014_FairValueInputsLevel2Member_FairValueMeasurementsRecurringMember" decimals="-6">2456663000000</us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral>
  <us-gaap:InterestRateDerivativeAssetsAtFairValue unitRef="usd" contextRef="c199_AsOf31Dec2015_InterestRateSwapMember_FairValueMeasurementsRecurringMember" decimals="-6">127555000000</us-gaap:InterestRateDerivativeAssetsAtFairValue>
  <us-gaap:InterestRateDerivativeAssetsAtFairValue unitRef="usd" contextRef="c200_AsOf31Dec2015_InterestRateSwapMember_FairValueInputsLevel2Member_FairValueMeasurementsRecurringMember" decimals="-6">127555000000</us-gaap:InterestRateDerivativeAssetsAtFairValue>
  <us-gaap:InterestRateDerivativeLiabilitiesAtFairValue unitRef="usd" contextRef="c199_AsOf31Dec2015_InterestRateSwapMember_FairValueMeasurementsRecurringMember" decimals="-6">978853000000</us-gaap:InterestRateDerivativeLiabilitiesAtFairValue>
  <us-gaap:InterestRateDerivativeLiabilitiesAtFairValue unitRef="usd" contextRef="c200_AsOf31Dec2015_InterestRateSwapMember_FairValueInputsLevel2Member_FairValueMeasurementsRecurringMember" decimals="-6">978853000000</us-gaap:InterestRateDerivativeLiabilitiesAtFairValue>
  <us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral unitRef="usd" contextRef="c201_AsOf31Dec2015_FairValueMeasurementsRecurringMember" decimals="-6">851298000000</us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral>
  <us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral unitRef="usd" contextRef="c202_AsOf31Dec2015_FairValueInputsLevel2Member_FairValueMeasurementsRecurringMember" decimals="-6">851298000000</us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral>
  <gass:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs &lt;br /&gt; (Level 3)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Impairment Loss&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Long-lived assets held and used&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(6,168,747&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;1,977,051&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(6,168,747&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value Measurements Using&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;Description&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Fair Value as of December&amp;nbsp;31, 2015&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Quoted&amp;nbsp;Prices in Active Markets for Identical Assets &lt;br /&gt; (Level 1)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Other Observable Inputs &lt;br /&gt; (Level 2)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Significant Unobservable Inputs &lt;br /&gt; (Level 3)&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Impairment Loss&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Long-lived assets held and used&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;(8,238,987&lt;/td&gt;
       &lt;td style=&quot;width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt&quot;&gt;Total&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;7,589,921&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;(8,238,987&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;)&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</gass:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c203_AsOf31Dec2014_LongLivedAssetsHeldAndUsedMember" decimals="0">1977051</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c204_AsOf31Dec2014_LongLivedAssetsHeldAndUsedMember_FairValueInputsLevel2Member" decimals="0">1977051</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetImpairmentCharges unitRef="usd" contextRef="c205_From1Jan2014To31Dec2014_LongLivedAssetsHeldAndUsedMember" decimals="0">6168747</us-gaap:AssetImpairmentCharges>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c0_AsOf31Dec2014" decimals="0">1977051</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c206_AsOf31Dec2014_FairValueInputsLevel2Member" decimals="0">1977051</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetImpairmentCharges unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">6168747</us-gaap:AssetImpairmentCharges>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c207_AsOf31Dec2015_LongLivedAssetsHeldAndUsedMember" decimals="0">7589921</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c208_AsOf31Dec2015_LongLivedAssetsHeldAndUsedMember_FairValueInputsLevel2Member" decimals="0">7589921</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetImpairmentCharges unitRef="usd" contextRef="c209_From1Jan2015To31Dec2015_LongLivedAssetsHeldAndUsedMember" decimals="0">8238987</us-gaap:AssetImpairmentCharges>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">7589921</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetsFairValueDisclosureNonrecurring unitRef="usd" contextRef="c210_AsOf31Dec2015_FairValueInputsLevel2Member" decimals="0">7589921</us-gaap:AssetsFairValueDisclosureNonrecurring>
  <us-gaap:AssetImpairmentCharges unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">8238987</us-gaap:AssetImpairmentCharges>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;13.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Common Stock and Additional Paid-in Capital &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amounts shown in the accompanying consolidated balance sheets as additional paid-in capital, represent payments made by the stockholders for the acquisitions of the Company&amp;#x2019;s vessels, or investments in the Company&amp;#x2019;s common stock.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On March&amp;nbsp;22, 2010, the Company&amp;#x2019;s Board of Directors adopted a new stock repurchase plan for up to $15,000,000 to be used for repurchasing the Company&amp;#x2019;s common shares. For the year ended December&amp;nbsp;31, 2010, the Company completed the repurchase of 1,205,229&amp;nbsp;shares paying an average price per share of $5.21. These shares were cancelled and removed from the Company&amp;#x2019;s capital stock. During the year ended December&amp;nbsp;31, 2011, the Company completed the repurchase of additional 551,646&amp;nbsp;shares paying an average price per share of $4.05. These shares are held as treasury stock by the Company. No shares were repurchased during the years ended December&amp;nbsp;31, 2012 and 2013.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On April 30, 2013, the Company completed a follow-on public offering of 11,500,000&amp;nbsp;shares of common stock, par value of $0.01, for $10.00 per share. The gross proceeds from the offering amounted to $115,000,000, while the net proceeds after the underwriters&amp;#x2019; discounts and commissions and other related expenses amounted to $109,119,029.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On February 14, 2014, the Company completed an underwritten registered offering of 3,398,558&amp;nbsp;shares of common stock, par value of $0.01, for $9.71 per share. The gross proceeds from the offering amounted to $32,999,998, while the net proceeds after the underwriters&amp;#x2019; discounts and commissions and other related expenses amounted to $31,937,044.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On May 7, 2014, the Company completed an underwritten registered offering of 4,476,195&amp;nbsp;shares of common stock, par value of $0.01, for $10.50 per share. The gross proceeds from the offering amounted to $47,000,047, while the net proceeds after the underwriters&amp;#x2019; discounts and commissions and other related expenses amounted to $46,294,133.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On August 12, 2014, the Company completed an underwritten registered offering of 3,500,000&amp;nbsp;shares of common stock, par value of $0.01, for $10.00 per share. The gross proceeds from the offering amounted to $35,000,000, while the net proceeds after the underwriters&amp;#x2019; discounts and commissions and other related expenses amounted to $34,071,501.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On November&amp;nbsp;26, 2014, the Company&amp;#x2019;s Board of Directors adopted a new stock repurchase plan for up to $10,000,000 to be used for repurchasing the Company&amp;#x2019;s common shares. For the year ended December&amp;nbsp;31, 2014, the Company completed the repurchase of 843,022&amp;nbsp;shares paying an average price per share of $6.30. These shares are held as treasury stock by the Company.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On February&amp;nbsp;26, 2015, the Company&amp;#x2019;s Board of Directors approved the extension of the existing stock repurchase plan for an additional amount of $20,000,000 to be used for repurchasing the Company&amp;#x2019;s common shares. For the year ended December&amp;nbsp;31, 2015, the Company completed the repurchase of 2,372,097&amp;nbsp;shares paying an average price per share of $5.46. These shares are held as treasury stock by the Company.&lt;/p&gt;&lt;br/&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:StockRepurchaseProgramAuthorizedAmount1 unitRef="usd" contextRef="c211_AsOf22Mar2010" decimals="0">15000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
  <us-gaap:StockRepurchasedDuringPeriodShares unitRef="shares" contextRef="c212_From1Jan2010To31Dec2010" decimals="INF">1205229</us-gaap:StockRepurchasedDuringPeriodShares>
  <us-gaap:TreasuryStockAcquiredAverageCostPerShare unitRef="usdPershares" contextRef="c212_From1Jan2010To31Dec2010" decimals="2">5.21</us-gaap:TreasuryStockAcquiredAverageCostPerShare>
  <us-gaap:StockRepurchasedDuringPeriodShares unitRef="shares" contextRef="c213_From1Jan2011To31Dec2011" decimals="INF">551646</us-gaap:StockRepurchasedDuringPeriodShares>
  <us-gaap:TreasuryStockAcquiredAverageCostPerShare unitRef="usdPershares" contextRef="c213_From1Jan2011To31Dec2011" decimals="2">4.05</us-gaap:TreasuryStockAcquiredAverageCostPerShare>
  <us-gaap:StockRepurchasedDuringPeriodShares unitRef="shares" contextRef="c214_From1Jan2012To31Dec2012" decimals="INF">0</us-gaap:StockRepurchasedDuringPeriodShares>
  <us-gaap:StockRepurchasedDuringPeriodShares unitRef="shares" contextRef="c2_From1Jan2013To31Dec2013" decimals="INF">0</us-gaap:StockRepurchasedDuringPeriodShares>
  <gass:SharesPublicOffering unitRef="shares" contextRef="c215_AsOf30Apr2013" decimals="INF">11500000</gass:SharesPublicOffering>
  <us-gaap:CommonStockParOrStatedValuePerShare unitRef="usdPershares" contextRef="c215_AsOf30Apr2013" decimals="2">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:SaleOfStockPricePerShare unitRef="usdPershares" contextRef="c215_AsOf30Apr2013" decimals="2">10.00</us-gaap:SaleOfStockPricePerShare>
  <us-gaap:ProceedsFromIssuanceOrSaleOfEquity unitRef="usd" contextRef="c216_From1Apr2013To30Apr2013" decimals="0">115000000</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
  <gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts unitRef="usd" contextRef="c216_From1Apr2013To30Apr2013" decimals="0">109119029</gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues unitRef="shares" contextRef="c217_From1Feb2014To14Feb2014" decimals="INF">3398558</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:CommonStockParOrStatedValuePerShare unitRef="usdPershares" contextRef="c218_AsOf14Feb2014" decimals="2">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:SaleOfStockPricePerShare unitRef="usdPershares" contextRef="c218_AsOf14Feb2014" decimals="2">9.71</us-gaap:SaleOfStockPricePerShare>
  <us-gaap:ProceedsFromIssuanceOrSaleOfEquity unitRef="usd" contextRef="c217_From1Feb2014To14Feb2014" decimals="0">32999998</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
  <gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts unitRef="usd" contextRef="c217_From1Feb2014To14Feb2014" decimals="0">31937044</gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues unitRef="shares" contextRef="c219_From1May2014To7May2014" decimals="INF">4476195</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:CommonStockParOrStatedValuePerShare unitRef="usdPershares" contextRef="c220_AsOf7May2014" decimals="2">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:SaleOfStockPricePerShare unitRef="usdPershares" contextRef="c220_AsOf7May2014" decimals="2">10.50</us-gaap:SaleOfStockPricePerShare>
  <us-gaap:ProceedsFromIssuanceOrSaleOfEquity unitRef="usd" contextRef="c219_From1May2014To7May2014" decimals="0">47000047</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
  <gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts unitRef="usd" contextRef="c219_From1May2014To7May2014" decimals="0">46294133</gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues unitRef="shares" contextRef="c221_From1Aug2014To12Aug2014" decimals="INF">3500000</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:CommonStockParOrStatedValuePerShare unitRef="usdPershares" contextRef="c222_AsOf12Aug2014" decimals="2">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:SaleOfStockPricePerShare unitRef="usdPershares" contextRef="c222_AsOf12Aug2014" decimals="2">10.00</us-gaap:SaleOfStockPricePerShare>
  <us-gaap:ProceedsFromIssuanceOrSaleOfEquity unitRef="usd" contextRef="c221_From1Aug2014To12Aug2014" decimals="0">35000000</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
  <gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts unitRef="usd" contextRef="c221_From1Aug2014To12Aug2014" decimals="0">34071501</gass:ProceedsFromIssuanceOfEquityNetOfIssuanceCosts>
  <us-gaap:StockRepurchaseProgramAuthorizedAmount1 unitRef="usd" contextRef="c223_AsOf26Nov2014" decimals="0">10000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
  <us-gaap:StockRepurchasedDuringPeriodShares unitRef="shares" contextRef="c3_From1Jan2014To31Dec2014" decimals="INF">843022</us-gaap:StockRepurchasedDuringPeriodShares>
  <us-gaap:TreasuryStockAcquiredAverageCostPerShare unitRef="usdPershares" contextRef="c3_From1Jan2014To31Dec2014" decimals="2">6.30</us-gaap:TreasuryStockAcquiredAverageCostPerShare>
  <gass:StockRepurchaseProgramAuthorizedAmountAdditional unitRef="usd" contextRef="c224_AsOf26Feb2015" decimals="0">20000000</gass:StockRepurchaseProgramAuthorizedAmountAdditional>
  <us-gaap:StockRepurchasedDuringPeriodShares unitRef="shares" contextRef="c4_From1Jan2015To31Dec2015" decimals="INF">2372097</us-gaap:StockRepurchasedDuringPeriodShares>
  <us-gaap:TreasuryStockAcquiredAverageCostPerShare unitRef="usdPershares" contextRef="c4_From1Jan2015To31Dec2015" decimals="2">5.46</us-gaap:TreasuryStockAcquiredAverageCostPerShare>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;&lt;b&gt;14.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Equity Compensation Plan&lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;During 2007, the Company&amp;#x2019;s board of directors has adopted an Equity Compensation Plan (&amp;#x201c;the Plan&amp;#x201d;), under which the Company&amp;#x2019;s employees, directors or other persons or entities providing significant services to the Company or its subsidiaries are eligible to receive stock-based awards including restricted stock, restricted stock units, unrestricted stock, bonus stock, performance stock and stock appreciation rights. The Plan is administered by the Compensation Committee of the Company&amp;#x2019;s board of directors and the aggregate number of shares of common stock reserved under this plan cannot exceed 10% of the number of shares of Company&amp;#x2019;s common stock issued and outstanding at the time any award is granted. The Company&amp;#x2019;s Board of Directors may terminate the Plan at any time. As of December&amp;nbsp;31, 2015, a total of 555,479 restricted shares had been granted under the Plan since the first grant in the third quarter of 2007.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On November 22, 2012, the Company granted 74,761 non-vested restricted shares to the Company&amp;#x2019;s CEO, CFO, Executive and non-executive members of Board of Directors. The fair value of each share granted was $7.26 which is equal to the market value of the Company&amp;#x2019;s common stock on that day. The restricted shares vested on September 30, 2014.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;On November&amp;nbsp;20, 2014, the Company granted 230,713 of non-vested restricted shares to the Company&amp;#x2019;s CEO and non-executive members of Board of Directors of the Company. The fair value of each share granted was $7.58 which is equal to the market value of the Company&amp;#x2019;s common stock on that day. The restricted shares vest over 3&amp;nbsp;years from the grant date, (115,357 restricted shares on November&amp;nbsp;20, 2015, 57,678 restricted shares on November&amp;nbsp;20, 2016 and 57,678 restricted shares on November&amp;nbsp;20, 2017).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;All unvested restricted shares are conditional upon the option holder&amp;#x2019;s continued service as an employee of the Company, or as a director until the applicable vesting date. Until the forfeiture of any restricted shares, the grantee has the right to vote such restricted shares, to receive and retain all regular cash dividends paid on such restricted shares and to exercise all other rights provided that the Company will retain custody of all distributions other than regular cash dividends made or declared with respect to the restricted shares.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company pays dividends on all restricted shares regardless of whether they have vested and there is no obligation of the employee to return the dividend when employment ceases. The Company did not pay any dividends in the years ended December&amp;nbsp;31, 2013, 2014 and 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company estimates the forfeitures of restricted shares to be immaterial. The Company will, however, re-evaluate the reasonableness of its assumption at each reporting period.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Management has selected the accelerated method allowed by the guidance with respect to recognizing stock based compensation expense for restricted share awards with graded vesting because it considers this method to better match expense with benefits received.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&amp;nbsp;In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until non-employees complete the service.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The stock based compensation expense for the vested and non-vested shares for the years ended December&amp;nbsp;31, 2013, 2014 and 2015 amounted to $292,628, $357,967 and $1,140,084, respectively, and is included in the consolidated statements of income under the caption &amp;#x201c;General and administrative expenses&amp;#x201d;.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;A summary of the status of the Company&amp;#x2019;s non-vested restricted shares as of December&amp;nbsp;31, 2015, is presented below: &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 90%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Number&amp;nbsp;of&lt;br /&gt; restricted&amp;nbsp; shares&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Weighted&amp;nbsp;average&amp;nbsp;grant&lt;br /&gt; date fair&amp;nbsp;value per&lt;br /&gt; non-vested share&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 64%; font-size: 10pt&quot;&gt;Non-vested, January&amp;nbsp;1, 2015 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;230,713&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;7.58&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Vested &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;115,357&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7.58&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Forfeited &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Non-vested, December&amp;nbsp;31, 2015 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;115,356&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;7.58&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; margin: 0pt 0&quot;&gt;The total fair value of shares vested during the years ended December&amp;nbsp;31, 2014 and 2015 was $681,073 and $441,815, respectively, based on the closing share price at each vesting date. No shares vested during the year ended December 31, 2013. The remaining unrecognized compensation cost amounting to $469,623 as of December 31, 2015, is expected to be recognized over the remaining period of 1.89 years, according to the contractual terms of those non-vested share awards.&lt;/p&gt;&lt;br/&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <gass:CommonStockReservedPercentage unitRef="pure" contextRef="c225_From1Jan2007To31Dec2007_ThePlanMember" decimals="2">0.10</gass:CommonStockReservedPercentage>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod unitRef="shares" contextRef="c226_From1Jan2015To31Dec2015_ThePlanMember" decimals="INF">555479</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod unitRef="shares" contextRef="c227_From1Nov2012To22Nov2012_NonVestedRestrictedSharesMember" decimals="INF">74761</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c227_From1Nov2012To22Nov2012_NonVestedRestrictedSharesMember" decimals="2">7.26</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod unitRef="shares" contextRef="c228_From1Nov2014To20Nov2014_NonVestedRestrictedSharesMember" decimals="INF">230713</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c228_From1Nov2014To20Nov2014_NonVestedRestrictedSharesMember" decimals="2">7.58</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="c228_From1Nov2014To20Nov2014_NonVestedRestrictedSharesMember">P3Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod unitRef="shares" contextRef="c229_From21Nov2014To20Nov2015_NonVestedRestrictedSharesMember" decimals="INF">115357</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod unitRef="shares" contextRef="c230_From21Nov2015To20Nov2016_NonVestedRestrictedSharesMember_ScenarioForecastMember" decimals="INF">57678</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod unitRef="shares" contextRef="c231_From21Nov2016To20Nov2017_NonVestedRestrictedSharesMember_ScenarioForecastMember" decimals="INF">57678</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
  <us-gaap:Dividends unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">0</us-gaap:Dividends>
  <us-gaap:Dividends unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">0</us-gaap:Dividends>
  <us-gaap:Dividends unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">0</us-gaap:Dividends>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c232_From1Jan2013To31Dec2013_NonVestedRestrictedSharesMember" decimals="0">292628</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c233_From1Jan2014To31Dec2014_NonVestedRestrictedSharesMember" decimals="0">357967</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c234_From1Jan2015To31Dec2015_NonVestedRestrictedSharesMember" decimals="0">1140084</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue unitRef="usd" contextRef="c233_From1Jan2014To31Dec2014_NonVestedRestrictedSharesMember" decimals="0">681073</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">441815</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">469623</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="c4_From1Jan2015To31Dec2015">P1Y324D</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1>
  <us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 90%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Number&amp;nbsp;of&lt;br /&gt; restricted&amp;nbsp; shares&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Weighted&amp;nbsp;average&amp;nbsp;grant&lt;br /&gt; date fair&amp;nbsp;value per&lt;br /&gt; non-vested share&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 64%; font-size: 10pt&quot;&gt;Non-vested, January&amp;nbsp;1, 2015 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;230,713&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 14%; font-size: 10pt; text-align: right&quot;&gt;7.58&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Vested &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;115,357&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7.58&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Forfeited &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;#x2014;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Non-vested, December&amp;nbsp;31, 2015 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;115,356&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right&quot;&gt;7.58&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber unitRef="shares" contextRef="c0_AsOf31Dec2014" decimals="INF">230713</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c0_AsOf31Dec2014" decimals="2">7.58</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod unitRef="shares" contextRef="c4_From1Jan2015To31Dec2015" decimals="INF">115357</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c4_From1Jan2015To31Dec2015" decimals="2">7.58</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber unitRef="shares" contextRef="c1_AsOf31Dec2015" decimals="INF">115356</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c1_AsOf31Dec2015" decimals="2">7.58</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:EarningsPerShareTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;15.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Earnings per share &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share give effect to all potentially dilutive securities. All of the Company&amp;#x2019;s shares (including non-vested restricted stock issued under the Plan) participate equally in dividend distributions and in undistributed earnings.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company applies the two-class method of computing earnings per share (EPS) as the unvested share-based payment awards that contain rights to receive non forfeitable dividends are participating securities. Dividends declared during the period for non-vested restricted stock as well as undistributed earnings allocated to non-vested stock are deducted from net income for the purpose of the computation of basic earnings per share in accordance with the two-class method. The denominator of the basic earnings per common share excludes any non-vested shares as such they are not considered outstanding until the time-based vesting restriction has elapsed.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;For purposes of calculating diluted earnings per share, dividends declared during the period for non-vested restricted stock and undistributed earnings allocated to non-vested stock are not deducted from net income as reported since such calculation assumes non-vested restricted stock is fully vested from the grant date.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;&amp;nbsp;The Company calculates basic and diluted earnings&amp;nbsp;per share as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Year Ended December&amp;nbsp;31,&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2013&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2015&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Numerator&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Net income &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,217,193&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,685,826&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,566,678&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Less: Undistributed earnings allocated to non-vested shares &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(55,958&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(26,357&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(13,457&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Net income attributable to common shareholders, basic &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,161,235&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,659,469&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,553,221&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Denominator&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Weighted average number of shares outstanding, basic and diluted &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;28,271,746&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;39,305,644&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;41,315,127&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Earnings per share, basic and diluted &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;0.75&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;0.32&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;0.06&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The Company excluded the dilutive effect of 115,356 (2014: 230,713, 2013:74,761) non-vested share awards in calculating dilutive EPS for its common shares as of December 31, 2015, as they were anti-dilutive.&lt;/p&gt;&lt;br/&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c235_From1Jan2015To31Dec2015_NonVestedRestrictedSharesMember" decimals="INF">115356</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c236_From1Jan2014To31Dec2014_NonVestedRestrictedSharesMember" decimals="INF">230713</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c237_From1Jan2013To31Dec2013_NonVestedRestrictedSharesMember" decimals="INF">74761</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Year Ended December&amp;nbsp;31,&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2013&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2014&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2015&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Numerator&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Net income &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,217,193&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,685,826&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,566,678&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Less: Undistributed earnings allocated to non-vested shares &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(55,958&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(26,357&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;(13,457&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;)&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Net income attributable to common shareholders, basic &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;21,161,235&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;12,659,469&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;2,553,221&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Denominator&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Weighted average number of shares outstanding, basic and diluted &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;28,271,746&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;39,305,644&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;41,315,127&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;Earnings per share, basic and diluted &lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;0.75&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;0.32&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;0.06&lt;/font&gt;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid&quot;&gt;&lt;font style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <us-gaap:UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">55958</us-gaap:UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted>
  <us-gaap:UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">26357</us-gaap:UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted>
  <us-gaap:UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">13457</us-gaap:UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">21161235</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">12659469</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">2553221</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <gass:VoyageExpensesAndVesselOperatingExpensesTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;16.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Voyage Expenses and Vessel Operating Expenses &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;The amounts in the accompanying consolidated statements of income are analyzed as follows:&lt;/p&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Voyage Expenses&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt; text-align: left&quot;&gt;Port expenses &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;2,067,494&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;2,278,961&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;3,960,574&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Bunkers &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;8,347,130&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7,553,318&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;8,566,490&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Commissions &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;3,244,939&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;3,725,645&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;4,112,177&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Other voyage expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;643,067&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;529,587&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;936,297&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;14,302,630&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;14,087,511&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;17,575,538&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Vessels&amp;#x2019; Operating Expenses&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt; text-align: left&quot;&gt;Crew wages and related costs &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;22,138,595&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;26,378,730&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;31,391,419&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Insurance &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,667,915&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,028,142&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,415,028&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Repairs and maintenance &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;4,243,133&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,194,476&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,091,916&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Spares and consumable stores &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,757,455&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7,120,974&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7,978,592&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Miscellaneous expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;2,716,455&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;4,713,014&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;3,777,670&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;36,523,553&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;45,435,336&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;50,654,625&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;</gass:VoyageExpensesAndVesselOperatingExpensesTextBlock>
  <gass:VoyageExpensesTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Voyage Expenses&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt; text-align: left&quot;&gt;Port expenses &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;2,067,494&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;2,278,961&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;3,960,574&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Bunkers &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;8,347,130&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7,553,318&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;8,566,490&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Commissions &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;3,244,939&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;3,725,645&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;4,112,177&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Other voyage expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;643,067&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;529,587&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;936,297&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;14,302,630&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;14,087,511&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;17,575,538&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</gass:VoyageExpensesTableTextBlock>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c238_From1Jan2013To31Dec2013_PortExpensesMember" decimals="0">2067494</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c239_From1Jan2014To31Dec2014_PortExpensesMember" decimals="0">2278961</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c240_From1Jan2015To31Dec2015_PortExpensesMember" decimals="0">3960574</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c241_From1Jan2013To31Dec2013_BunkersMember" decimals="0">8347130</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c242_From1Jan2014To31Dec2014_BunkersMember" decimals="0">7553318</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c243_From1Jan2015To31Dec2015_BunkersMember" decimals="0">8566490</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c244_From1Jan2013To31Dec2013_CommissionsMember" decimals="0">3244939</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c245_From1Jan2014To31Dec2014_CommissionsMember" decimals="0">3725645</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c246_From1Jan2015To31Dec2015_CommissionsMember" decimals="0">4112177</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c247_From1Jan2013To31Dec2013_OtherVoyageExpensesMember" decimals="0">643067</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c248_From1Jan2014To31Dec2014_OtherVoyageExpensesMember" decimals="0">529587</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c249_From1Jan2015To31Dec2015_OtherVoyageExpensesMember" decimals="0">936297</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">14302630</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">14087511</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VoyageExpensesIncludingRelatedParty unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">17575538</gass:VoyageExpensesIncludingRelatedParty>
  <gass:VesselsOperatingExpensesTableTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 100%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;11&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Year ended December&amp;nbsp;31,&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid&quot;&gt;Vessels&amp;#x2019; Operating Expenses&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2013&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2014&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;2015&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 61%; font-size: 10pt; text-align: left&quot;&gt;Crew wages and related costs &lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;22,138,595&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;26,378,730&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 10%; font-size: 10pt; text-align: right&quot;&gt;31,391,419&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;Insurance &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;1,667,915&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,028,142&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;2,415,028&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Repairs and maintenance &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;4,243,133&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,194,476&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,091,916&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;Spares and consumable stores &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;5,757,455&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7,120,974&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;7,978,592&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;Miscellaneous expenses &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;2,716,455&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;4,713,014&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;3,777,670&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 1pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;Total &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;36,523,553&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;45,435,336&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;50,654,625&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</gass:VesselsOperatingExpensesTableTextBlock>
  <us-gaap:LaborAndRelatedExpense unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">22138595</us-gaap:LaborAndRelatedExpense>
  <us-gaap:LaborAndRelatedExpense unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">26378730</us-gaap:LaborAndRelatedExpense>
  <us-gaap:LaborAndRelatedExpense unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">31391419</us-gaap:LaborAndRelatedExpense>
  <us-gaap:GeneralInsuranceExpense unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">1667915</us-gaap:GeneralInsuranceExpense>
  <us-gaap:GeneralInsuranceExpense unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">2028142</us-gaap:GeneralInsuranceExpense>
  <us-gaap:GeneralInsuranceExpense unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">2415028</us-gaap:GeneralInsuranceExpense>
  <gass:RepairsAndMaintenance unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">4243133</gass:RepairsAndMaintenance>
  <gass:RepairsAndMaintenance unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">5194476</gass:RepairsAndMaintenance>
  <gass:RepairsAndMaintenance unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">5091916</gass:RepairsAndMaintenance>
  <gass:SparesAndConsumableStores unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">5757455</gass:SparesAndConsumableStores>
  <gass:SparesAndConsumableStores unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">7120974</gass:SparesAndConsumableStores>
  <gass:SparesAndConsumableStores unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">7978592</gass:SparesAndConsumableStores>
  <us-gaap:OtherCostAndExpenseOperating unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">2716455</us-gaap:OtherCostAndExpenseOperating>
  <us-gaap:OtherCostAndExpenseOperating unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">4713014</us-gaap:OtherCostAndExpenseOperating>
  <us-gaap:OtherCostAndExpenseOperating unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">3777670</us-gaap:OtherCostAndExpenseOperating>
  <us-gaap:OperatingCostsAndExpenses unitRef="usd" contextRef="c2_From1Jan2013To31Dec2013" decimals="0">36523553</us-gaap:OperatingCostsAndExpenses>
  <us-gaap:OperatingCostsAndExpenses unitRef="usd" contextRef="c3_From1Jan2014To31Dec2014" decimals="0">45435336</us-gaap:OperatingCostsAndExpenses>
  <us-gaap:OperatingCostsAndExpenses unitRef="usd" contextRef="c4_From1Jan2015To31Dec2015" decimals="0">50654625</us-gaap:OperatingCostsAndExpenses>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;&lt;b&gt;17.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Income Taxes &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Under the laws of the countries of the companies&amp;#x2019; incorporation and/or vessels&amp;#x2019; registration, the companies are not subject to tax on international shipping income, however, they are subject to registration and tonnage taxes, which have been included in Vessel operating expenses in the consolidated statements of income.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;Pursuant to the Internal Revenue Code of the United States (the &amp;#x201c;Code&amp;#x201d;), U.S.&amp;nbsp;source income from the international operations of ships is generally exempt from U.S.&amp;nbsp;tax if the Company operating the ships meets certain requirements. Among other things, in order to qualify for this exemption, the Company operating the ships must be incorporated in a country which grants an equivalent exemption from income taxes to U.S.&amp;nbsp;corporations. All the Company&amp;#x2019;s ship-operating subsidiaries satisfy these initial criteria. In addition, these companies must be more than 50% owned by individuals who are residents, as defined, in the country of incorporation or another foreign country that grants an equivalent exemption to U.S.&amp;nbsp;corporations. These companies also currently satisfy the more than 50% beneficial ownership requirement.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In addition, the management of the Company believes that by virtue of a special rule applicable to situations where the ship-operating companies are beneficially owned by a publicly traded company like the Company, the more than 50% beneficial ownership requirement can also be satisfied based on the trading volume and the anticipated widely-held ownership of the Company&amp;#x2019;s shares, but no assurance can be given that this will remain so in the future, since continued compliance with this rule is subject to factors outside the Company&amp;#x2019;s control.&lt;/p&gt;&lt;br/&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;b&gt;18.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Commitments and Contingencies &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 30.6pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 18.35pt&quot;&gt;&amp;#x2022;&lt;/td&gt;
      &lt;td&gt;From time to time the Company expects to be subject to legal proceedings and claims in the ordinary course of its business, principally personal injury and property casualty claims. Such claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. On August 5, 2015, our Aframax tanker &amp;#x201c;Spike&amp;#x201d; was arrested. This action related to security sought in connection with an arbitration proceeding involving a vessel not in the Company&amp;#x2019;s fleet that the applicant claims is under common control with the MT &amp;#x201c;Spike&amp;#x201d;. On August 20, 2015, the Company in order to secure the vessel&amp;#x2019;s release, lodged to the court a bank guarantee amounting to $9,837,000. As of December 31, 2015, this amount was in a restricted account and is presented under current restricted cash in the consolidated balance sheet. The Company believes that the outcome of this case will not have a material effect on its operations and financial position and will possibly result in the release of the bank guarantee and an equal increase in the cash flows from investing activities.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 30.6pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 18.35pt&quot;&gt;&amp;#x2022;&lt;/td&gt;
      &lt;td&gt;During 2014, the Company has entered into separate agreements to acquire six LPG carriers which are currently under construction, and are described in Notes 3 and 5. The Company has future outstanding commitments for installment payments for these agreements as follows:&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 70%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left&quot;&gt;December 31&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Amount&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 80%; font-size: 10pt; text-align: left&quot;&gt;2016 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 16%; font-size: 10pt; text-align: right&quot;&gt;62,365,151&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;2017 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;145,824,000&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;208,189,151&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 30.6pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 18.35pt&quot;&gt;&amp;#x2022;&lt;/td&gt;
      &lt;td&gt;Future minimum contractual charter revenues, gross of commissions, based on vessels committed to non-cancellable, long-term time and bareboat charter contracts as of December&amp;nbsp;31, 2015, amount to $82,976,254 during 2016, $41,053,799 during 2017, $24,228,368 during 2018, $19,432,253 during 2019 and $17,677,068 during 2020. These amounts do not include any assumed off-hire. Of these amounts, $7,412,400 for the year ending December 31, 2016 and $2,023,500 for the year ending December 31, 2017 relate to time charter agreements with Emihar Petroleum Inc.as discussed in Note 3.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <gass:BankGuaranteeToSecureReleaseOfVessel unitRef="usd" contextRef="c250_AsOf20Aug2015" decimals="0">9837000</gass:BankGuaranteeToSecureReleaseOfVessel>
  <us-gaap:ContractReceivableDueOneYearOrLess unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">82976254</us-gaap:ContractReceivableDueOneYearOrLess>
  <us-gaap:ContractReceivableDueOneToTwoYears unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">41053799</us-gaap:ContractReceivableDueOneToTwoYears>
  <us-gaap:ContractReceivableDueTwoToThreeYears unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">24228368</us-gaap:ContractReceivableDueTwoToThreeYears>
  <us-gaap:ContractReceivableDueThreeToFourYears unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">19432253</us-gaap:ContractReceivableDueThreeToFourYears>
  <us-gaap:ContractReceivableDueFourToFiveYears unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">17677068</us-gaap:ContractReceivableDueFourToFiveYears>
  <us-gaap:ContractReceivableDueOneYearOrLess unitRef="usd" contextRef="c251_AsOf31Dec2015_EmiharPetroleumIncMember" decimals="0">7412400</us-gaap:ContractReceivableDueOneYearOrLess>
  <us-gaap:ContractReceivableDueOneToTwoYears unitRef="usd" contextRef="c251_AsOf31Dec2015_EmiharPetroleumIncMember" decimals="0">2023500</us-gaap:ContractReceivableDueOneToTwoYears>
  <us-gaap:LongTermPurchaseCommitmentTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot; style=&quot;border-collapse: collapse; width: 70%&quot;&gt;

      &lt;tr style=&quot;vertical-align: bottom&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left&quot;&gt;December 31&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td colspan=&quot;3&quot; style=&quot;font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid&quot;&gt;Amount&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;width: 80%; font-size: 10pt; text-align: left&quot;&gt;2016 &lt;/td&gt;
       &lt;td style=&quot;width: 2%; font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;width: 16%; font-size: 10pt; text-align: right&quot;&gt;62,365,151&lt;/td&gt;
       &lt;td style=&quot;width: 1%; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left; padding-bottom: 1.1pt&quot;&gt;2017 &lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; padding-bottom: 1.1pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right&quot;&gt;145,824,000&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: rgb(204,238,255)&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: right&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;vertical-align: bottom; background-color: White&quot;&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right&quot;&gt;208,189,151&lt;/td&gt;
       &lt;td style=&quot;border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:LongTermPurchaseCommitmentTextBlock>
  <us-gaap:PurchaseObligationDueInNextTwelveMonths unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">62365151</us-gaap:PurchaseObligationDueInNextTwelveMonths>
  <us-gaap:PurchaseObligationDueInSecondYear unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">145824000</us-gaap:PurchaseObligationDueInSecondYear>
  <us-gaap:PurchaseObligation unitRef="usd" contextRef="c1_AsOf31Dec2015" decimals="0">208189151</us-gaap:PurchaseObligation>
  <us-gaap:SaleLeasebackTransactionDisclosureTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;&lt;b&gt;19.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Sale and Leaseback of Vessels &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0&quot;&gt;In November and December 2014, the Company sold the vessels Gas Premiership and Gas Cathar and realized a total gain of $780,695. The Company entered into bareboat charter agreements to leaseback the vessels for a period of four years. The charter back agreements are accounted for as operating leases and the gain on the sale was deferred and is being amortized to income over the four-year lease period. For the years ended December&amp;nbsp;31, 2014 and 2015, the amortization amounted to $4,954 and $195,040, respectively, and is included in Charter hire expenses in the consolidated statements of income. Lease payments relating to the bareboat charters of the vessels amounted to $325,758 and $4,320,000 for the years ended December 31, 2014 and 2015, and are included in Charter hire expenses in the consolidated statements of income. Future lease payments as of December 31, 2015, until the expiry of the charter back agreements, amount to $4,320,000 during 2016, $4,320,000 during 2017 and $4,008,000 during 2018.&lt;/p&gt;&lt;br/&gt;</us-gaap:SaleLeasebackTransactionDisclosureTextBlock>
  <us-gaap:SaleLeasebackTransactionDeferredGainGross unitRef="usd" contextRef="c252_AsOf31Dec2014_GasPremiershipAndGasCatharMember" decimals="0">780695</us-gaap:SaleLeasebackTransactionDeferredGainGross>
  <gass:SaleLeasebackTransactionTermOfLease contextRef="c253_From1Nov2014To31Dec2014_GasPremiershipAndGasCatharMember">P4Y</gass:SaleLeasebackTransactionTermOfLease>
  <us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized unitRef="usd" contextRef="c254_From1Jan2014To31Dec2014_GasPremiershipAndGasCatharMember" decimals="0">4954</us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized>
  <us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized unitRef="usd" contextRef="c255_From1Jan2015To31Dec2015_GasPremiershipAndGasCatharMember" decimals="0">195040</us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized>
  <us-gaap:SaleLeasebackTransactionRentExpense unitRef="usd" contextRef="c254_From1Jan2014To31Dec2014_GasPremiershipAndGasCatharMember" decimals="0">325758</us-gaap:SaleLeasebackTransactionRentExpense>
  <us-gaap:SaleLeasebackTransactionRentExpense unitRef="usd" contextRef="c255_From1Jan2015To31Dec2015_GasPremiershipAndGasCatharMember" decimals="0">4320000</us-gaap:SaleLeasebackTransactionRentExpense>
  <us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear unitRef="usd" contextRef="c256_AsOf31Dec2015_GasPremiershipAndGasCatharMember" decimals="0">4320000</us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear>
  <us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears unitRef="usd" contextRef="c256_AsOf31Dec2015_GasPremiershipAndGasCatharMember" decimals="0">4320000</us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears>
  <us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears unitRef="usd" contextRef="c256_AsOf31Dec2015_GasPremiershipAndGasCatharMember" decimals="0">4008000</us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears>
  <us-gaap:SubsequentEventsTextBlock contextRef="c4_From1Jan2015To31Dec2015">&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 0&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;&lt;b&gt;20.&lt;/b&gt;&lt;/td&gt;
      &lt;td&gt;&lt;b&gt;Subsequent Events &lt;/b&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;(a)&lt;/td&gt;
      &lt;td&gt;On February 5, 2016, the Company paid the delivery installment amounting to $12,472,151 and took delivery of the vessel &amp;#x201c;Eco Nical&amp;#x201d;.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;(b)&lt;/td&gt;
      &lt;td&gt;On February 16, 2016, the committed third tranche of the facility agreement dated December 20, 2013 amounting to $15,600,000 was drawn down.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;(c)&lt;/td&gt;
      &lt;td&gt;On February 24, 2016, the Company entered into an agreement with Brave for the supervision of the construction of four of its vessels for a fixed fee of Euro 490,000 ($539,343 based upon the EUR/USD exchange rate of 1.1007) per vessel.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;(d)&lt;/td&gt;
      &lt;td&gt;On March 7, 2016 the Company entered into a term sheet with a bank to partially finance the acquisition of two LPG carriers on their delivery. The aggregate term loan is up to $76,020,000 and will be drawn down in two tranches upon the delivery of each vessel. The total facility will be repayable, with the first installment commencing three months after the drawdown, in thirty two consecutive quarterly installments plus a balloon payment payable together with the last installment.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;(e)&lt;/td&gt;
      &lt;td&gt;On March 9, 2016 the Company signed a commitment letter with a bank to partially finance the acquisition of two LPG carriers on their delivery. The aggregate committed term loan is up to $74,480,000 and will be drawn down in two tranches upon the delivery of each vessel. The total facility will be repayable, with the first installment commencing three months after the drawdown, in thirty two consecutive quarterly installments plus a balloon payment payable together with the last installment.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt&quot;&gt;

     &lt;tr style=&quot;vertical-align: top&quot;&gt;
      &lt;td style=&quot;width: 24.45pt&quot;&gt;&lt;/td&gt;
      &lt;td style=&quot;width: 24.5pt&quot;&gt;(f)&lt;/td&gt;
      &lt;td&gt;From the beginning of 2016 and up to April 1, 2016, the Company completed the repurchase of 644,178 shares of common stock paying an average price per share of $3.09. These shares are held as treasury stock by the Company.&lt;/td&gt;
     &lt;/tr&gt;

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        <link:definition>045 - Disclosure - Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) - Advances for Vessels Under Construction and Acquisitions</link:definition>
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  <xs:element abstract="false" id="gass_NonCashInvestingActivityVesselsUnderConstruction" name="NonCashInvestingActivityVesselsUnderConstruction" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock" name="AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_DeferredFinanceChargesTextBlock" name="DeferredFinanceChargesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_CustomerDepositsTextBlock" name="CustomerDepositsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VoyageExpensesAndVesselOperatingExpensesTextBlock" name="VoyageExpensesAndVesselOperatingExpensesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock" name="AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselsAcquisitionsPolicyTextBlock" name="VesselsAcquisitionsPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock" name="AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock" name="AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock" name="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VoyageExpensesTableTextBlock" name="VoyageExpensesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselsOperatingExpensesTableTextBlock" name="VesselsOperatingExpensesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_InventoriesBunkers" name="InventoriesBunkers" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_InventoryLubricants" name="InventoryLubricants" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_AdvancesForVesselsUnderConstructionAcquisitions" name="AdvancesForVesselsUnderConstructionAcquisitions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_CapitalizedExpenses" name="CapitalizedExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselsDelivered" name="VesselsDelivered" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselsCancelled" name="VesselsCancelled" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_PropertyPlantAndEquipmentDisposalsNet" name="PropertyPlantAndEquipmentDisposalsNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation" name="ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" name="AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselOperatingAndVoyageExpenses" name="VesselOperatingAndVoyageExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xs:element abstract="true" id="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtTable" name="Note11LongtermDebtDetailsSummaryofLongtermDebtTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems" name="Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges" name="LongTermDebtCurrentMaturitiesBeforeFinancingCharges" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_LongTermDebtNonCurrentBeforeFinancingCharges" name="LongTermDebtNonCurrentBeforeFinancingCharges" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_LongTermDebtBeforeDeferredFinancingCharges" name="LongTermDebtBeforeDeferredFinancingCharges" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI" name="DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss" name="DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ForeignCurrencyContractRealizedGainLoss" name="ForeignCurrencyContractRealizedGainLoss" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI" name="DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet" name="DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable" name="Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xs:element abstract="true" id="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable" name="Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xs:element abstract="false" id="gass_VoyageExpensesDomain" name="VoyageExpensesDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable" name="Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems" name="Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VoyageExpensesIncludingRelatedParty" name="VoyageExpensesIncludingRelatedParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_RepairsAndMaintenance" name="RepairsAndMaintenance" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SparesAndConsumableStores" name="SparesAndConsumableStores" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note2SignificantAccountingPoliciesDetailsTable" name="Note2SignificantAccountingPoliciesDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xs:element abstract="false" id="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue" name="ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue" name="ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note3TransactionswithRelatedPartiesDetailsTable" name="Note3TransactionswithRelatedPartiesDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note3TransactionswithRelatedPartiesDetailsLineItems" name="Note3TransactionswithRelatedPartiesDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ManagementFeePerDayPerVessel" name="ManagementFeePerDayPerVessel" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ManagementFeePerDayPerVesselUnderBareboatCharter" name="ManagementFeePerDayPerVesselUnderBareboatCharter" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselBrokerageCommissionPercentage" name="VesselBrokerageCommissionPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselBrokerageCommission" name="VesselBrokerageCommission" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SalesAndPurchaseBrokerCommissionFeePercentage" name="SalesAndPurchaseBrokerCommissionFeePercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SalesandPurchaseBrokerCommissionFee" name="SalesandPurchaseBrokerCommissionFee" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_NetGainLossOnSaleVessels" name="NetGainLossOnSaleVessels" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselPurchasePrice" name="VesselPurchasePrice" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions" name="AdvancesPercentageForVesselsUnderConstructionAcquisitions" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_RelatedPartyTransactionVesselConstructionFeePerVessel" name="RelatedPartyTransactionVesselConstructionFeePerVessel" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable" name="Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xs:element abstract="false" id="gass_NumberOfVesselsUnderConstruction" name="NumberOfVesselsUnderConstruction" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="instant"/>
  <xs:element abstract="true" id="gass_Note6VesselsNetDetailsTable" name="Note6VesselsNetDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note6VesselsNetDetailsLineItems" name="Note6VesselsNetDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SaleLeasebackTransactionTermOfLease" name="SaleLeasebackTransactionTermOfLease" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note9DeferredIncomeDetailsTable" name="Note9DeferredIncomeDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note9DeferredIncomeDetailsLineItems" name="Note9DeferredIncomeDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note10CustomerDepositsDetailsTable" name="Note10CustomerDepositsDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note10CustomerDepositsDetailsLineItems" name="Note10CustomerDepositsDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note11LongtermDebtDetailsTable" name="Note11LongtermDebtDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note11LongtermDebtDetailsLineItems" name="Note11LongtermDebtDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition" name="PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ValueToLoanRatio" name="ValueToLoanRatio" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets" name="PercentageOfTotalDebtToTotalMarketValueAdjustedAssets" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_EBITDAToInterestExpense" name="EBITDAToInterestExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoanFinancialCovenantsCashRequirement" name="TermLoanFinancialCovenantsCashRequirement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_PercentageOfDividendsPaidToFreeCashFlow" name="PercentageOfDividendsPaidToFreeCashFlow" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_QuarterlyCommitmentFeePercentage" name="QuarterlyCommitmentFeePercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note12DerivativesandFairValueDisclosuresDetailsTable" name="Note12DerivativesandFairValueDisclosuresDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems" name="Note12DerivativesandFairValueDisclosuresDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_InterestRateSwapFixedRate" name="InterestRateSwapFixedRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_DerivativeReferenceRateLIBOR" name="DerivativeReferenceRateLIBOR" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_ForeignCurrencyForwardContractsConvertedAmount" name="ForeignCurrencyForwardContractsConvertedAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue" name="ImpairedLongLivedAssetsPreImpairmentCarryingValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_SharesPublicOffering" name="SharesPublicOffering" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xs:element abstract="false" id="gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts" name="ProceedsFromIssuanceOfEquityNetOfIssuanceCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_StockRepurchaseProgramAuthorizedAmountAdditional" name="StockRepurchaseProgramAuthorizedAmountAdditional" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xs:element abstract="true" id="gass_Note14EquityCompensationPlanDetailsTable" name="Note14EquityCompensationPlanDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note14EquityCompensationPlanDetailsLineItems" name="Note14EquityCompensationPlanDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_CommonStockReservedPercentage" name="CommonStockReservedPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note15EarningsPerShareDetailsTable" name="Note15EarningsPerShareDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note15EarningsPerShareDetailsLineItems" name="Note15EarningsPerShareDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note18CommitmentsandContingenciesDetailsTable" name="Note18CommitmentsandContingenciesDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note18CommitmentsandContingenciesDetailsLineItems" name="Note18CommitmentsandContingenciesDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_BankGuaranteeToSecureReleaseOfVessel" name="BankGuaranteeToSecureReleaseOfVessel" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xs:element abstract="true" id="gass_Note19SaleandLeasebackofVesselsDetailsTable" name="Note19SaleandLeasebackofVesselsDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note19SaleandLeasebackofVesselsDetailsLineItems" name="Note19SaleandLeasebackofVesselsDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note20SubsequentEventsDetailsTable" name="Note20SubsequentEventsDetailsTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_Note20SubsequentEventsDetailsLineItems" name="Note20SubsequentEventsDetailsLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_PaymentInstallmentForVesselDelivery" name="PaymentInstallmentForVesselDelivery" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_VoyageExpensesAxis" name="VoyageExpensesAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" name="AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_AffiliatedCompanyMember" name="AffiliatedCompanyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_BraveMember" name="BraveMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_BunkersMember" name="BunkersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_CapitalizedConstructionSupervisionFeesMember" name="CapitalizedConstructionSupervisionFeesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ChartererAMember" name="ChartererAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ChartererBMember" name="ChartererBMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_CollectionOfAdvancePaymentsMember" name="CollectionOfAdvancePaymentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_CommissionExpensesMember" name="CommissionExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_CommissionsMember" name="CommissionsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ConditionMetAtDeliveryMember" name="ConditionMetAtDeliveryMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ConditionNotBeingMetMember" name="ConditionNotBeingMetMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_December242015TermLoanMember" name="December242015TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_December312014Member" name="December312014Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_EcoEnigmaVesselMember" name="EcoEnigmaVesselMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_EcoInvictusTermLoanMember" name="EcoInvictusTermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_EcoNicalVesselMember" name="EcoNicalVesselMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_EmiharPetroleumIncMember" name="EmiharPetroleumIncMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_FirstFacilityAgreementWithABankMember" name="FirstFacilityAgreementWithABankMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_FirstTrancheMember" name="FirstTrancheMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_GasArcticMember" name="GasArcticMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_GasCatharMember" name="GasCatharMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_GasHuskyAndGasEscoMember" name="GasHuskyAndGasEscoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_GasPremiershipAndGasCatharMember" name="GasPremiershipAndGasCatharMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_GasPremiershipMember" name="GasPremiershipMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_July292014TermLoanMember" name="July292014TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_July42014TermLoanMember" name="July42014TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGCarriersContractedIn2012FromSellerMember" name="LPGCarriersContractedIn2012FromSellerMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGCarriersContractedIn2013FromSellerMember" name="LPGCarriersContractedIn2013FromSellerMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGCarriersContractedIn2013FromShipBuilderMember" name="LPGCarriersContractedIn2013FromShipBuilderMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGCarriersContractedIn2014FromSellersMember" name="LPGCarriersContractedIn2014FromSellersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGCarriersContractedIn2014FromShipBuildersMember" name="LPGCarriersContractedIn2014FromShipBuildersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGMember" name="LPGMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LPGVesselsMember" name="LPGVesselsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LesserOfMember" name="LesserOfMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_LongLivedAssetsHeldAndUsedMember" name="LongLivedAssetsHeldAndUsedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_March72016TermLoanMember" name="March72016TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_March92016TermLoanMember" name="March92016TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_Navig8FaithMember" name="Navig8FaithMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_NonVestedRestrictedSharesMember" name="NonVestedRestrictedSharesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_NotToExceedMember" name="NotToExceedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_NumeratorMember" name="NumeratorMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_OfficeSpaceRentMember" name="OfficeSpaceRentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_OtherVoyageExpensesMember" name="OtherVoyageExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_PortExpensesMember" name="PortExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ProductCarriersMember" name="ProductCarriersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ReductionInCurrentPortionOfLongTermDebtMember" name="ReductionInCurrentPortionOfLongTermDebtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ReductionInDeferredFinanceChargesMember" name="ReductionInDeferredFinanceChargesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ReductionInLongTermDebtMember" name="ReductionInLongTermDebtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ReimbursedManagerCompensationMember" name="ReimbursedManagerCompensationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_RemainingVesselsMember" name="RemainingVesselsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SecondFacilityAgreeementWithBankMember" name="SecondFacilityAgreeementWithBankMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SecondTrancheMember" name="SecondTrancheMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SpikeMember" name="SpikeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_SuperintendentFeesMember" name="SuperintendentFeesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_Swap1Member" name="Swap1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_Swap2Member" name="Swap2Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan10Member" name="TermLoan10Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan11Member" name="TermLoan11Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan12Member" name="TermLoan12Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan13Member" name="TermLoan13Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan14Member" name="TermLoan14Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan15Member" name="TermLoan15Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan16Member" name="TermLoan16Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan17Member" name="TermLoan17Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan18Member" name="TermLoan18Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan19Member" name="TermLoan19Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan1Member" name="TermLoan1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan20Member" name="TermLoan20Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan21Member" name="TermLoan21Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan2Member" name="TermLoan2Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan3Member" name="TermLoan3Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan4Member" name="TermLoan4Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan5Member" name="TermLoan5Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan6Member" name="TermLoan6Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan7Member" name="TermLoan7Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoan8Member" name="TermLoan8Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoanEnteredIntoOnDecember202013Member" name="TermLoanEnteredIntoOnDecember202013Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoanMember" name="TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TermLoanWithBankMarch242014Member" name="TermLoanWithBankMarch242014Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TheGasKaizenAndTheGasCrystalVesselsMember" name="TheGasKaizenAndTheGasCrystalVesselsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ThePlanMember" name="ThePlanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_ThirdTrancheMember" name="ThirdTrancheMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TimeAndBareboatDeferredRevenueMember" name="TimeAndBareboatDeferredRevenueMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_TwoOfThreeTranchesMember" name="TwoOfThreeTranchesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="false" id="gass_VesselsOperatingExpensesMember" name="VesselsOperatingExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xs:element abstract="true" id="gass_DocumentAndEntityInformationAbstract" name="DocumentAndEntityInformationAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>

</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>10
<FILENAME>gass-20151231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Apr 19 22:14:42 UTC 2016 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_ConsolidatedBalanceSheet" roleURI="http://web.Stealthgas.com/role/ConsolidatedBalanceSheet"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_ConsolidatedIncomeStatement" roleURI="http://web.Stealthgas.com/role/ConsolidatedIncomeStatement"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_ConsolidatedComprehensiveIncome" roleURI="http://web.Stealthgas.com/role/ConsolidatedComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_ConsolidatedCashFlow" roleURI="http://web.Stealthgas.com/role/ConsolidatedCashFlow"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_InventoryTable" roleURI="http://web.Stealthgas.com/role/InventoryTable"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_AccruedLiabilitiesTable" roleURI="http://web.Stealthgas.com/role/AccruedLiabilitiesTable"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_PrincipalPaymentsTable" roleURI="http://web.Stealthgas.com/role/PrincipalPaymentsTable"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_BasicandDilutedEarningsPerShareCalculationTable" roleURI="http://web.Stealthgas.com/role/BasicandDilutedEarningsPerShareCalculationTable"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_VesselsOperatingExpensesTable" roleURI="http://web.Stealthgas.com/role/VesselsOperatingExpensesTable"/>
  <roleRef xlink:type="simple" xlink:href="gass-20151231.xsd#gass_r_FutureOutstandingCommitmentsforInstallmentPaymentsTable" roleURI="http://web.Stealthgas.com/role/FutureOutstandingCommitmentsforInstallmentPaymentsTable"/>
  <calculationLink xlink:type="extended" xlink:role="http://web.Stealthgas.com/role/ConsolidatedBalanceSheet">
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DueFromRelatedPartiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_DueFromRelatedPartiesCurrent" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent" order="3" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherReceivablesNetCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherReceivablesNetCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_OtherReceivablesNetCurrent" order="4" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_InventoryNet" order="5" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>11
<FILENAME>gass-20151231_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Apr 19 22:14:42 UTC 2016 -->
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</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>12
<FILENAME>gass-20151231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no" ?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Apr 19 22:14:42 UTC 2016 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple"/>
  <labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at beginning of year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at end of year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent" xlink:label="us-gaap_DueFromRelatedPartiesCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable from related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedPartiesCurrent" xlink:to="us-gaap_DueFromRelatedPartiesCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherReceivablesNetCurrent" xlink:label="us-gaap_OtherReceivablesNetCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_OtherReceivablesNetCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Claims receivable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivablesNetCurrent" xlink:to="us-gaap_OtherReceivablesNetCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet" xlink:type="locator"/>
    <label xlink:label="us-gaap_InventoryNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories</label>
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    <label xlink:label="us-gaap_InventoryNet_lbl0" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances and prepayments</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessel held for sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent" xlink:to="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances for vessels under construction and acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(in Dollars)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl2" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessels, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherReceivables" xlink:label="us-gaap_OtherReceivables" xlink:type="locator"/>
    <label xlink:label="us-gaap_OtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other receivables from related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivables" xlink:to="us-gaap_OtherReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted cash</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred finance charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:to="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred finance charges non-current</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:to="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs, Noncurrent, Net</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssetsNoncurrent" xlink:label="us-gaap_DerivativeAssetsNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of derivatives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetsNoncurrent" xlink:to="us-gaap_DerivativeAssetsNoncurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Swap Agreements</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetsNoncurrent" xlink:to="us-gaap_DerivativeAssetsNoncurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total non current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_AssetsNoncurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xlink:type="locator"/>
    <label xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payable to related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due to Related Parties, Current</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccountsPayableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade accounts payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_DeferredRevenueCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Revenue, Current</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DeferredRevenueRelatedPartyCurrent" xlink:label="gass_DeferredRevenueRelatedPartyCurrent" xlink:type="locator"/>
    <label xlink:label="gass_DeferredRevenueRelatedPartyCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred income &#x2013; related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredRevenueRelatedPartyCurrent" xlink:to="gass_DeferredRevenueRelatedPartyCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilitiesCurrent" xlink:label="us-gaap_DerivativeLiabilitiesCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of derivatives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesCurrent" xlink:to="us-gaap_DerivativeLiabilitiesCurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_DerivativeLiabilitiesCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current derivative liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesCurrent" xlink:to="us-gaap_DerivativeLiabilitiesCurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="us-gaap_LongTermDebtCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebtCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current portion of long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtCurrent" xlink:to="us-gaap_LongTermDebtCurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_LongTermDebtCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Current portion of long-term debt, net of current portion of deferred finance charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtCurrent" xlink:to="us-gaap_LongTermDebtCurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_LiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilitiesNoncurrent" xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of derivatives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesNoncurrent" xlink:to="us-gaap_DerivativeLiabilitiesNoncurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current derivative liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesNoncurrent" xlink:to="us-gaap_DerivativeLiabilitiesNoncurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerDepositsNoncurrent" xlink:label="us-gaap_CustomerDepositsNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_CustomerDepositsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer deposits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerDepositsNoncurrent" xlink:to="us-gaap_CustomerDepositsNoncurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DeferredGainOnSaleAndLeasebackOfVessels" xlink:label="gass_DeferredGainOnSaleAndLeasebackOfVessels" xlink:type="locator"/>
    <label xlink:label="gass_DeferredGainOnSaleAndLeasebackOfVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred gain on sale and leaseback of vessels</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredGainOnSaleAndLeasebackOfVessels" xlink:to="gass_DeferredGainOnSaleAndLeasebackOfVessels_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="us-gaap_DeferredRevenueNoncurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_LongTermDebtNoncurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term debt, net of deferred finance charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="us-gaap_LiabilitiesNoncurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total noncurrent liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrent" xlink:to="us-gaap_LiabilitiesNoncurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xlink:type="locator"/>
    <label xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and contingencies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital stock, 5,000,000 preferred shares authorized and zero outstanding with a par value of $0.01 per share, 100,000,000 common shares authorized 44,285,108 shares issued and 42,889,773 shares outstanding at December 31, 2014 and 44,285,108 shares issued and 40,517,676 shares outstanding at December 31, 2015 with a par value of $0.01 per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par Value (in Dollars per share)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Issued</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Outstanding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" xlink:type="locator"/>
    <label xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares Authorized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" xlink:type="locator"/>
    <label xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares Outstanding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="locator"/>
    <label xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares Par Value (in Dollars per share)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_TreasuryStockValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Treasury stock, 1,395,335 shares at December 31, 2014 and 3,767,432 shares at December 31, 2015 with a par value of $0.01 per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValue" xlink:to="us-gaap_TreasuryStockValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares" xlink:type="locator"/>
    <label xlink:label="us-gaap_TreasuryStockShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury stock, shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="us-gaap_TreasuryStockShares_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TreasuryStockParValue" xlink:label="gass_TreasuryStockParValue" xlink:type="locator"/>
    <label xlink:label="gass_TreasuryStockParValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury stock, par value (in Dollars per share)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TreasuryStockParValue" xlink:to="gass_TreasuryStockParValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" xlink:type="locator"/>
    <label xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="locator"/>
    <label xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl1" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xlink:type="locator"/>
    <label xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total stockholders&#x2019; equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="locator"/>
    <label xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and stockholders&#x2019; equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="us-gaap_SalesRevenueNet" xlink:type="locator"/>
    <label xlink:label="us-gaap_SalesRevenueNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_SalesRevenueNet_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="us-gaap_RevenueFromRelatedParties" xlink:type="locator"/>
    <label xlink:label="us-gaap_RevenueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues &#x2013; related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="us-gaap_RevenueFromRelatedParties_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_RevenueFromRelatedParties_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from Related Parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="us-gaap_RevenueFromRelatedParties_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" xlink:type="locator"/>
    <label xlink:label="us-gaap_Revenues_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpenses" xlink:label="gass_VoyageExpenses" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpenses" xlink:to="gass_VoyageExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesRelatedParty" xlink:label="gass_VoyageExpensesRelatedParty" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage expenses &#x2013; related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesRelatedParty" xlink:to="gass_VoyageExpensesRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CharterHireExpenses" xlink:label="gass_CharterHireExpenses" xlink:type="locator"/>
    <label xlink:label="gass_CharterHireExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Charter hire expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CharterHireExpenses" xlink:to="gass_CharterHireExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsOperatingExpensesExcludingRelatedParty" xlink:label="gass_VesselsOperatingExpensesExcludingRelatedParty" xlink:type="locator"/>
    <label xlink:label="gass_VesselsOperatingExpensesExcludingRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vessels&#x2019; operating expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesExcludingRelatedParty" xlink:to="gass_VesselsOperatingExpensesExcludingRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsOperatingExpensesRelatedParty" xlink:label="gass_VesselsOperatingExpensesRelatedParty" xlink:type="locator"/>
    <label xlink:label="gass_VesselsOperatingExpensesRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vessels&#x2019; operating expenses &#x2013; related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesRelatedParty" xlink:to="gass_VesselsOperatingExpensesRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:label="us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:type="locator"/>
    <label xlink:label="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dry-docking costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:to="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfessionalAndContractServicesExpense" xlink:label="us-gaap_ProfessionalAndContractServicesExpense" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management fees &#x2013; related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalAndContractServicesExpense" xlink:to="us-gaap_ProfessionalAndContractServicesExpense_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Professional and Contract Services Expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalAndContractServicesExpense" xlink:to="us-gaap_ProfessionalAndContractServicesExpense_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense" xlink:type="locator"/>
    <label xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and administrative expenses (including $1,323,836, $1,394,025, and $1,150,451, to related party)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and administrative expenses, related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Depreciation" xlink:label="us-gaap_Depreciation" xlink:type="locator"/>
    <label xlink:label="us-gaap_Depreciation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Depreciation" xlink:to="us-gaap_Depreciation_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:label="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:type="locator"/>
    <label xlink:label="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:to="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:to="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl1" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Impairement loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:to="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl1" xlink:type="arc"/>
    <label xlink:label="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Impairment of Long-Lived Assets Held-for-use</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:to="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_lbl2" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:type="locator"/>
    <label xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net gain on sale of vessels</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:to="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of vessels</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:to="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:type="locator"/>
    <label xlink:label="us-gaap_OperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xlink:type="locator"/>
    <label xlink:label="us-gaap_OperatingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income from operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestAndDebtExpense" xlink:label="us-gaap_InterestAndDebtExpense" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestAndDebtExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest and finance costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndDebtExpense" xlink:to="us-gaap_InterestAndDebtExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:type="locator"/>
    <label xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on derivatives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:to="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest" xlink:type="locator"/>
    <label xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest income and other income/(expenses)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:type="locator"/>
    <label xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange (loss)/gain</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NonoperatingGainsLosses" xlink:label="us-gaap_NonoperatingGainsLosses" xlink:type="locator"/>
    <label xlink:label="us-gaap_NonoperatingGainsLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other expenses, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingGainsLosses" xlink:to="us-gaap_NonoperatingGainsLosses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" xlink:type="locator"/>
    <label xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_NetIncomeLoss_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income</label>
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    <loc xlink:href="gass-20151231.xsd#gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels" xlink:label="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels" xlink:type="locator"/>
    <label xlink:label="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of deferred gain on sale and leaseback of vessels</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels" xlink:to="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:type="locator"/>
    <label xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unrealized exchange differences</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share based compensation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ShareBasedCompensation_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives" xlink:type="locator"/>
    <label xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of derivatives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Trade and other receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Claims receivable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherReceivables" xlink:to="us-gaap_IncreaseDecreaseInOtherReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Inventories</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInCustomerAdvances" xlink:label="us-gaap_IncreaseDecreaseInCustomerAdvances" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInCustomerAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances and prepayments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInCustomerAdvances" xlink:to="us-gaap_IncreaseDecreaseInCustomerAdvances_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balances with related parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedParties_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade accounts payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="locator"/>
    <label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insurance proceeds</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:to="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Vessels&#x2019; acquisitions and advances for vessels under construction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sale of vessels, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ProceedsFromCancellationOfVesselsAcquisitions" xlink:label="gass_ProceedsFromCancellationOfVesselsAcquisitions" xlink:type="locator"/>
    <label xlink:label="gass_ProceedsFromCancellationOfVesselsAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net proceeds related to cancellation of vessels&#x2019; acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ProceedsFromCancellationOfVesselsAcquisitions" xlink:to="gass_ProceedsFromCancellationOfVesselsAcquisitions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DecreaseInRestrictedCash" xlink:label="us-gaap_DecreaseInRestrictedCash" xlink:type="locator"/>
    <label xlink:label="us-gaap_DecreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Decrease in restricted cash account</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DecreaseInRestrictedCash" xlink:to="us-gaap_DecreaseInRestrictedCash_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseInRestrictedCash" xlink:label="us-gaap_IncreaseInRestrictedCash" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Increase in restricted cash account</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseInRestrictedCash" xlink:to="us-gaap_IncreaseInRestrictedCash_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="locator"/>
    <label xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRepurchaseOfEquity" xlink:label="us-gaap_PaymentsForRepurchaseOfEquity" xlink:type="locator"/>
    <label xlink:label="us-gaap_PaymentsForRepurchaseOfEquity_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Stock repurchase</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfEquity" xlink:to="us-gaap_PaymentsForRepurchaseOfEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net proceeds from common stock issuance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="us-gaap_PaymentsOfFinancingCosts" xlink:type="locator"/>
    <label xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred finance charges paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfFinancingCosts" xlink:to="us-gaap_PaymentsOfFinancingCosts_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDepositsFromCustomers" xlink:label="us-gaap_ProceedsFromDepositsFromCustomers" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromDepositsFromCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer deposits received</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromDepositsFromCustomers" xlink:to="us-gaap_ProceedsFromDepositsFromCustomers_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ProceedsFromDepositsFromCustomers_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Deposits from Customers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromDepositsFromCustomers" xlink:to="us-gaap_ProceedsFromDepositsFromCustomers_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PaymentsForCustomerDeposits" xlink:label="gass_PaymentsForCustomerDeposits" xlink:type="locator"/>
    <label xlink:label="gass_PaymentsForCustomerDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer deposits paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PaymentsForCustomerDeposits" xlink:to="gass_PaymentsForCustomerDeposits_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt" xlink:type="locator"/>
    <label xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loan repayments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="locator"/>
    <label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by financing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:type="locator"/>
    <label xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes on cash</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:type="locator"/>
    <label xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase/(decrease) in cash and cash equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash paid during the year for interest, net of amounts capitalized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NonCashFinancingActivityStockRepurchase" xlink:label="gass_NonCashFinancingActivityStockRepurchase" xlink:type="locator"/>
    <label xlink:label="gass_NonCashFinancingActivityStockRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non cash financing activity &#x2013; Stock repurchase</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonCashFinancingActivityStockRepurchase" xlink:to="gass_NonCashFinancingActivityStockRepurchase_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NonCashInvestingActivityVesselsUnderConstruction" xlink:label="gass_NonCashInvestingActivityVesselsUnderConstruction" xlink:type="locator"/>
    <label xlink:label="gass_NonCashInvestingActivityVesselsUnderConstruction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non cash investing activity &#x2013; Vessels under construction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonCashInvestingActivityVesselsUnderConstruction" xlink:to="gass_NonCashInvestingActivityVesselsUnderConstruction_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureTextBlockAbstract" xlink:label="us-gaap_DisclosureTextBlockAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_DisclosureTextBlockAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Text Block [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockAbstract" xlink:to="us-gaap_DisclosureTextBlockAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CharterersPercentageOfRevenueAbstract" xlink:label="gass_CharterersPercentageOfRevenueAbstract" xlink:type="locator"/>
    <label xlink:label="gass_CharterersPercentageOfRevenueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Charterers Percentage of Revenue [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CharterersPercentageOfRevenueAbstract" xlink:to="gass_CharterersPercentageOfRevenueAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ChartererAMember" xlink:label="gass_ChartererAMember" xlink:type="locator"/>
    <label xlink:label="gass_ChartererAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Charterer A [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ChartererAMember" xlink:to="gass_ChartererAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="us-gaap_ConcentrationRiskPercentage1" xlink:type="locator"/>
    <label xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration risk, percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ChartererBMember" xlink:label="gass_ChartererBMember" xlink:type="locator"/>
    <label xlink:label="gass_ChartererBMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Charterer B [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ChartererBMember" xlink:to="gass_ChartererBMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="us-gaap_RelatedPartyTransactionsAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryDisclosureAbstract" xlink:label="us-gaap_InventoryDisclosureAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_InventoryDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory Disclosure [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureAbstract" xlink:to="us-gaap_InventoryDisclosureAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_InventoryAbstract" xlink:label="gass_InventoryAbstract" xlink:type="locator"/>
    <label xlink:label="gass_InventoryAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_InventoryAbstract" xlink:to="gass_InventoryAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_InventoriesBunkers" xlink:label="gass_InventoriesBunkers" xlink:type="locator"/>
    <label xlink:label="gass_InventoriesBunkers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bunkers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_InventoriesBunkers" xlink:to="gass_InventoriesBunkers_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_InventoryLubricants" xlink:label="gass_InventoryLubricants" xlink:type="locator"/>
    <label xlink:label="gass_InventoryLubricants_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lubricants</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_InventoryLubricants" xlink:to="gass_InventoryLubricants_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract" xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances For Vessels Under Construction And Acquisitions [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesForVesselsUnderConstructionAcquisitions" xlink:label="gass_AdvancesForVesselsUnderConstructionAcquisitions" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances for vessels under construction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAcquisitions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="us-gaap_InterestCostsCapitalized" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestCostsCapitalized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="us-gaap_InterestCostsCapitalized_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_InterestCostsCapitalized_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Costs Capitalized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="us-gaap_InterestCostsCapitalized_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CapitalizedExpenses" xlink:label="gass_CapitalizedExpenses" xlink:type="locator"/>
    <label xlink:label="gass_CapitalizedExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CapitalizedExpenses" xlink:to="gass_CapitalizedExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsDelivered" xlink:label="gass_VesselsDelivered" xlink:type="locator"/>
    <label xlink:label="gass_VesselsDelivered_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vessels delivered</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsDelivered" xlink:to="gass_VesselsDelivered_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsCancelled" xlink:label="gass_VesselsCancelled" xlink:type="locator"/>
    <label xlink:label="gass_VesselsCancelled_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vessels cancelled (Note 3)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsCancelled" xlink:to="gass_VesselsCancelled_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SummaryOfVesselsNetAbstract" xlink:label="gass_SummaryOfVesselsNetAbstract" xlink:type="locator"/>
    <label xlink:label="gass_SummaryOfVesselsNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Summary of Vessels, Net [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SummaryOfVesselsNetAbstract" xlink:to="gass_SummaryOfVesselsNetAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Balance, December 31</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAdditions" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions (transfer from Advances for Vessels under Construction)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAdditions" xlink:to="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisposals" xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Disposals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisposals" xlink:to="us-gaap_PropertyPlantAndEquipmentDisposals_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PropertyPlantAndEquipmentDisposalsNet" xlink:label="gass_PropertyPlantAndEquipmentDisposalsNet" xlink:type="locator"/>
    <label xlink:label="gass_PropertyPlantAndEquipmentDisposalsNet_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PropertyPlantAndEquipmentDisposalsNet" xlink:to="gass_PropertyPlantAndEquipmentDisposalsNet_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation" xlink:label="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation" xlink:type="locator"/>
    <label xlink:label="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Impairement loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation" xlink:to="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" xlink:label="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairement loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" xlink:to="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation for the year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xlink:label="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vessel held for sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xlink:to="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl0" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Vessel held for sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xlink:to="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DeferredFinanceChargesAbstract" xlink:label="gass_DeferredFinanceChargesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_DeferredFinanceChargesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Charges [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredFinanceChargesAbstract" xlink:to="gass_DeferredFinanceChargesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureTextBlockSupplementAbstract" xlink:label="us-gaap_DisclosureTextBlockSupplementAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_DisclosureTextBlockSupplementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Text Block Supplement [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockSupplementAbstract" xlink:to="us-gaap_DisclosureTextBlockSupplementAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AccruedLiabilitiesAbstract" xlink:label="gass_AccruedLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_AccruedLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Liabilities [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AccruedLiabilitiesAbstract" xlink:to="gass_AccruedLiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="us-gaap_InterestPayableCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestPayableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest on long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrent" xlink:to="us-gaap_InterestPayableCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Administrative expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselOperatingAndVoyageExpenses" xlink:label="gass_VesselOperatingAndVoyageExpenses" xlink:type="locator"/>
    <label xlink:label="gass_VesselOperatingAndVoyageExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessel operating and voyage expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselOperatingAndVoyageExpenses" xlink:to="gass_VesselOperatingAndVoyageExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueDisclosureAbstract" xlink:label="us-gaap_DeferredRevenueDisclosureAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredRevenueDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue Disclosure [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueDisclosureAbstract" xlink:to="us-gaap_DeferredRevenueDisclosureAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CustomerDepositsAbstract" xlink:label="gass_CustomerDepositsAbstract" xlink:type="locator"/>
    <label xlink:label="gass_CustomerDepositsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Deposits [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CustomerDepositsAbstract" xlink:to="gass_CustomerDepositsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SummaryOfLongTermDebtAbstract" xlink:label="gass_SummaryOfLongTermDebtAbstract" xlink:type="locator"/>
    <label xlink:label="gass_SummaryOfLongTermDebtAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Summary of Long-term Debt [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SummaryOfLongTermDebtAbstract" xlink:to="gass_SummaryOfLongTermDebtAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan1Member" xlink:label="gass_TermLoan1Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 1 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan1Member" xlink:to="gass_TermLoan1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Original Amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_LongTermDebt_lbl0" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="us-gaap_RepaymentsOfDebt" xlink:type="locator"/>
    <label xlink:label="us-gaap_RepaymentsOfDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfDebt" xlink:to="us-gaap_RepaymentsOfDebt_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_RepaymentsOfDebt_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfDebt" xlink:to="us-gaap_RepaymentsOfDebt_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity Date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan2Member" xlink:label="gass_TermLoan2Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 2 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan2Member" xlink:to="gass_TermLoan2Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan3Member" xlink:label="gass_TermLoan3Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 3 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan3Member" xlink:to="gass_TermLoan3Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan4Member" xlink:label="gass_TermLoan4Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan4Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 4 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan4Member" xlink:to="gass_TermLoan4Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan5Member" xlink:label="gass_TermLoan5Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan5Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 5 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan5Member" xlink:to="gass_TermLoan5Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan6Member" xlink:label="gass_TermLoan6Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan6Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 6 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan6Member" xlink:to="gass_TermLoan6Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan7Member" xlink:label="gass_TermLoan7Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan7Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 7 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan7Member" xlink:to="gass_TermLoan7Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan8Member" xlink:label="gass_TermLoan8Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan8Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 8 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan8Member" xlink:to="gass_TermLoan8Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan10Member" xlink:label="gass_TermLoan10Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan10Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 10 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan10Member" xlink:to="gass_TermLoan10Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan11Member" xlink:label="gass_TermLoan11Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan11Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 11 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan11Member" xlink:to="gass_TermLoan11Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan12Member" xlink:label="gass_TermLoan12Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan12Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 12 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan12Member" xlink:to="gass_TermLoan12Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan13Member" xlink:label="gass_TermLoan13Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan13Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 13 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan13Member" xlink:to="gass_TermLoan13Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan14Member" xlink:label="gass_TermLoan14Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan14Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 14 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan14Member" xlink:to="gass_TermLoan14Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfDebt_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan15Member" xlink:label="gass_TermLoan15Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan15Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 15 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan15Member" xlink:to="gass_TermLoan15Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan16Member" xlink:label="gass_TermLoan16Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan16Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 16 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan16Member" xlink:to="gass_TermLoan16Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan17Member" xlink:label="gass_TermLoan17Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan17Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 17 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan17Member" xlink:to="gass_TermLoan17Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan18Member" xlink:label="gass_TermLoan18Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan18Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 18 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan18Member" xlink:to="gass_TermLoan18Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan19Member" xlink:label="gass_TermLoan19Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan19Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 19 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan19Member" xlink:to="gass_TermLoan19Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan20Member" xlink:label="gass_TermLoan20Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan20Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 20 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan20Member" xlink:to="gass_TermLoan20Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoan21Member" xlink:label="gass_TermLoan21Member" xlink:type="locator"/>
    <label xlink:label="gass_TermLoan21Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan 21 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan21Member" xlink:to="gass_TermLoan21Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges" xlink:label="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges" xlink:type="locator"/>
    <label xlink:label="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current portion of long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges" xlink:to="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_LongTermDebtNonCurrentBeforeFinancingCharges" xlink:label="gass_LongTermDebtNonCurrentBeforeFinancingCharges" xlink:type="locator"/>
    <label xlink:label="gass_LongTermDebtNonCurrentBeforeFinancingCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtNonCurrentBeforeFinancingCharges" xlink:to="gass_LongTermDebtNonCurrentBeforeFinancingCharges_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_LongTermDebtBeforeDeferredFinancingCharges" xlink:label="gass_LongTermDebtBeforeDeferredFinancingCharges" xlink:type="locator"/>
    <label xlink:label="gass_LongTermDebtBeforeDeferredFinancingCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtBeforeDeferredFinancingCharges" xlink:to="gass_LongTermDebtBeforeDeferredFinancingCharges_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsCurrentNet" xlink:label="us-gaap_DeferredFinanceCostsCurrentNet" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2018</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2019</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Thereafter</label>
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    <label xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestRateSwapMember" xlink:label="us-gaap_InterestRateSwapMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestRateSwapMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap [Member]</label>
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    <label xlink:label="us-gaap_DerivativeAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total derivative assets</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total derivative liabilitiies</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ForeignExchangeForwardMember" xlink:label="us-gaap_ForeignExchangeForwardMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_ForeignExchangeForwardMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Forward [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignExchangeForwardMember" xlink:to="us-gaap_ForeignExchangeForwardMember_lbl" xlink:type="arc"/>
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    <label xlink:label="us-gaap_NondesignatedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not Designated as Hedging Instrument [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NondesignatedMember" xlink:to="us-gaap_NondesignatedMember_lbl" xlink:type="arc"/>
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    <label xlink:label="us-gaap_DerivativeByNatureAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, by Nature [Axis]</label>
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    <loc xlink:href="gass-20151231.xsd#gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss" xlink:label="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:type="locator"/>
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    <loc xlink:href="gass-20151231.xsd#gass_FairValueOfAssetsAndLiabilitiesMeasuredOnARecurringBasisAbstract" xlink:label="gass_FairValueOfAssetsAndLiabilitiesMeasuredOnARecurringBasisAbstract" xlink:type="locator"/>
    <label xlink:label="gass_FairValueOfAssetsAndLiabilitiesMeasuredOnARecurringBasisAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value of Assets and Liabilities Measured on a Recurring Basis [Abstract]</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="us-gaap_FairValueMeasurementsRecurringMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurements, Recurring [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsRecurringMember" xlink:to="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestRateDerivativeLiabilitiesAtFairValue" xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Swap Agreements</label>
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    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral" xlink:to="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestRateDerivativeAssetsAtFairValue" xlink:label="us-gaap_InterestRateDerivativeAssetsAtFairValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestRateDerivativeAssetsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Swap Agreements</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateDerivativeAssetsAtFairValue" xlink:to="us-gaap_InterestRateDerivativeAssetsAtFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="us-gaap_FairValueInputsLevel1Member" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="us-gaap_FairValueInputsLevel2Member" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="us-gaap_FairValueInputsLevel3Member" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ValuationOfAssetsMeasuredAtFairValueOnANonRecurringBasisAbstract" xlink:label="gass_ValuationOfAssetsMeasuredAtFairValueOnANonRecurringBasisAbstract" xlink:type="locator"/>
    <label xlink:label="gass_ValuationOfAssetsMeasuredAtFairValueOnANonRecurringBasisAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ValuationOfAssetsMeasuredAtFairValueOnANonRecurringBasisAbstract" xlink:to="gass_ValuationOfAssetsMeasuredAtFairValueOnANonRecurringBasisAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByAssetClassAxis" xlink:label="us-gaap_FairValueByAssetClassAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueByAssetClassAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Class [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByAssetClassAxis" xlink:to="us-gaap_FairValueByAssetClassAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_LongLivedAssetsHeldAndUsedMember" xlink:label="gass_LongLivedAssetsHeldAndUsedMember" xlink:type="locator"/>
    <label xlink:label="gass_LongLivedAssetsHeldAndUsedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-lived Assets Held and Used [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongLivedAssetsHeldAndUsedMember" xlink:to="gass_LongLivedAssetsHeldAndUsedMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureNonrecurring" xlink:label="us-gaap_AssetsFairValueDisclosureNonrecurring" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsFairValueDisclosureNonrecurring_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of assets measured on a non-recurring basis</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosureNonrecurring" xlink:to="us-gaap_AssetsFairValueDisclosureNonrecurring_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Impairment loss on assets measured at fair value on a non-recurring basis</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="us-gaap_AssetImpairmentCharges_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="us-gaap_StockholdersEquityNoteAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NonvestedRestrictedSharesAbstract" xlink:label="gass_NonvestedRestrictedSharesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_NonvestedRestrictedSharesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonvested Restricted Shares [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonvestedRestrictedSharesAbstract" xlink:to="gass_NonvestedRestrictedSharesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Non-vested, January 1, 2015</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Non-vested, December 31, 2015</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Non-vested, January 1, 2015</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Non-vested, December 31, 2015</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vested</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vested</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_EarningsPerShareAbstract_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_BasicAndDilutedEarningsPerShareCalculationAbstract" xlink:label="gass_BasicAndDilutedEarningsPerShareCalculationAbstract" xlink:type="locator"/>
    <label xlink:label="gass_BasicAndDilutedEarningsPerShareCalculationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and Diluted Earnings Per Share Calculation [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BasicAndDilutedEarningsPerShareCalculationAbstract" xlink:to="gass_BasicAndDilutedEarningsPerShareCalculationAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted" xlink:label="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted" xlink:type="locator"/>
    <label xlink:label="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: Undistributed earnings allocated to non-vested shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted" xlink:to="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:type="locator"/>
    <label xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to common shareholders, basic</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesAndVesselOperatingExpensesAbstract" xlink:label="gass_VoyageExpensesAndVesselOperatingExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesAndVesselOperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage Expenses And Vessel Operating Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesAndVesselOperatingExpensesAbstract" xlink:to="gass_VoyageExpensesAndVesselOperatingExpensesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesAbstract" xlink:label="gass_VoyageExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesAbstract" xlink:to="gass_VoyageExpensesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesAxis" xlink:label="gass_VoyageExpensesAxis" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Voyage Expenses [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesAxis" xlink:to="gass_VoyageExpensesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PortExpensesMember" xlink:label="gass_PortExpensesMember" xlink:type="locator"/>
    <label xlink:label="gass_PortExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Port Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PortExpensesMember" xlink:to="gass_PortExpensesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesIncludingRelatedParty" xlink:label="gass_VoyageExpensesIncludingRelatedParty" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesIncludingRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Voyage expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesIncludingRelatedParty" xlink:to="gass_VoyageExpensesIncludingRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_BunkersMember" xlink:label="gass_BunkersMember" xlink:type="locator"/>
    <label xlink:label="gass_BunkersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bunkers [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BunkersMember" xlink:to="gass_BunkersMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CommissionsMember" xlink:label="gass_CommissionsMember" xlink:type="locator"/>
    <label xlink:label="gass_CommissionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commissions [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommissionsMember" xlink:to="gass_CommissionsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_OtherVoyageExpensesMember" xlink:label="gass_OtherVoyageExpensesMember" xlink:type="locator"/>
    <label xlink:label="gass_OtherVoyageExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Voyage Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OtherVoyageExpensesMember" xlink:to="gass_OtherVoyageExpensesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsOperatingExpensesAbstract" xlink:label="gass_VesselsOperatingExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_VesselsOperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessels' Operating Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesAbstract" xlink:to="gass_VesselsOperatingExpensesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense" xlink:type="locator"/>
    <label xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Crew wages and related costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LaborAndRelatedExpense" xlink:to="us-gaap_LaborAndRelatedExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralInsuranceExpense" xlink:label="us-gaap_GeneralInsuranceExpense" xlink:type="locator"/>
    <label xlink:label="us-gaap_GeneralInsuranceExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insurance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralInsuranceExpense" xlink:to="us-gaap_GeneralInsuranceExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_RepairsAndMaintenance" xlink:label="gass_RepairsAndMaintenance" xlink:type="locator"/>
    <label xlink:label="gass_RepairsAndMaintenance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repairs and maintenance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RepairsAndMaintenance" xlink:to="gass_RepairsAndMaintenance_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SparesAndConsumableStores" xlink:label="gass_SparesAndConsumableStores" xlink:type="locator"/>
    <label xlink:label="gass_SparesAndConsumableStores_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spares and consumable stores</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SparesAndConsumableStores" xlink:to="gass_SparesAndConsumableStores_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherCostAndExpenseOperating" xlink:label="us-gaap_OtherCostAndExpenseOperating" xlink:type="locator"/>
    <label xlink:label="us-gaap_OtherCostAndExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCostAndExpenseOperating" xlink:to="us-gaap_OtherCostAndExpenseOperating_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingCostsAndExpenses" xlink:label="us-gaap_OperatingCostsAndExpenses" xlink:type="locator"/>
    <label xlink:label="us-gaap_OperatingCostsAndExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingCostsAndExpenses" xlink:to="us-gaap_OperatingCostsAndExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract" xlink:label="gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract" xlink:type="locator"/>
    <label xlink:label="gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Future Outstanding Commitments for Installment Payments [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract" xlink:to="gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PurchaseObligationDueInNextTwelveMonths" xlink:label="us-gaap_PurchaseObligationDueInNextTwelveMonths" xlink:type="locator"/>
    <label xlink:label="us-gaap_PurchaseObligationDueInNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2016</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PurchaseObligationDueInNextTwelveMonths" xlink:to="us-gaap_PurchaseObligationDueInNextTwelveMonths_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PurchaseObligationDueInSecondYear" xlink:label="us-gaap_PurchaseObligationDueInSecondYear" xlink:type="locator"/>
    <label xlink:label="us-gaap_PurchaseObligationDueInSecondYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2017</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PurchaseObligationDueInSecondYear" xlink:to="us-gaap_PurchaseObligationDueInSecondYear_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PurchaseObligation" xlink:label="us-gaap_PurchaseObligation" xlink:type="locator"/>
    <label xlink:label="us-gaap_PurchaseObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PurchaseObligation" xlink:to="us-gaap_PurchaseObligation_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="us-gaap_LeasesAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_LeasesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesAbstract" xlink:to="us-gaap_LeasesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NonCurrentAssetsAbstract" xlink:label="gass_NonCurrentAssetsAbstract" xlink:type="locator"/>
    <label xlink:label="gass_NonCurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonCurrentAssetsAbstract" xlink:to="gass_NonCurrentAssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Stockholders&#x2019; Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NonCurrentLiabilitiesAbstract" xlink:label="gass_NonCurrentLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_NonCurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non current liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonCurrentLiabilitiesAbstract" xlink:to="gass_NonCurrentLiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders&#x2019; equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_RevenuesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ExpensesAbstract" xlink:label="gass_ExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_ExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ExpensesAbstract" xlink:to="gass_ExpensesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_OtherExpensesIncomeAbstract" xlink:label="gass_OtherExpensesIncomeAbstract" xlink:type="locator"/>
    <label xlink:label="gass_OtherExpensesIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other (expenses)/income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OtherExpensesIncomeAbstract" xlink:to="gass_OtherExpensesIncomeAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_WeightedAverageNumberOfSharesAbstract" xlink:label="gass_WeightedAverageNumberOfSharesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_WeightedAverageNumberOfSharesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average number of shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_WeightedAverageNumberOfSharesAbstract" xlink:to="gass_WeightedAverageNumberOfSharesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_OtherComprehensiveLossAbstract" xlink:label="gass_OtherComprehensiveLossAbstract" xlink:type="locator"/>
    <label xlink:label="gass_OtherComprehensiveLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OtherComprehensiveLossAbstract" xlink:to="gass_OtherComprehensiveLossAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CashFlowHedgesAbstract" xlink:label="gass_CashFlowHedgesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_CashFlowHedgesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flow hedges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CashFlowHedgesAbstract" xlink:to="gass_CashFlowHedgesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CashFlowsFromOperatingActivitiesAbstract" xlink:label="gass_CashFlowsFromOperatingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_CashFlowsFromOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CashFlowsFromOperatingActivitiesAbstract" xlink:to="gass_CashFlowsFromOperatingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:label="gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:label="gass_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in operating assets and liabilities:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="gass_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_IncreaseDecreaseInAbstract" xlink:label="gass_IncreaseDecreaseInAbstract" xlink:type="locator"/>
    <label xlink:label="gass_IncreaseDecreaseInAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">(Increase)/decrease in</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_IncreaseDecreaseInAbstract" xlink:to="gass_IncreaseDecreaseInAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_IncreaseDecreaseInAbstract0" xlink:label="gass_IncreaseDecreaseInAbstract0" xlink:type="locator"/>
    <label xlink:label="gass_IncreaseDecreaseInAbstract0_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase/(decrease) in</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_IncreaseDecreaseInAbstract0" xlink:to="gass_IncreaseDecreaseInAbstract0_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CashFlowsFromInvestingActivitiesAbstract" xlink:label="gass_CashFlowsFromInvestingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_CashFlowsFromInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CashFlowsFromInvestingActivitiesAbstract" xlink:to="gass_CashFlowsFromInvestingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CashFlowsFromFinancingActivitiesAbstract" xlink:label="gass_CashFlowsFromFinancingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_CashFlowsFromFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CashFlowsFromFinancingActivitiesAbstract" xlink:to="gass_CashFlowsFromFinancingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock" xlink:label="us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock" xlink:to="us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Inventory, Current [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock" xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances For Vessels Under Construction And Acquisitions [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock" xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances for Vessels Under Construction and Acquisitions [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DeferredFinanceChargesTextBlock" xlink:label="gass_DeferredFinanceChargesTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_DeferredFinanceChargesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Charges [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredFinanceChargesTextBlock" xlink:to="gass_DeferredFinanceChargesTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock" xlink:label="us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock" xlink:to="us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accrued Liabilities [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueDisclosureTextBlock" xlink:label="us-gaap_DeferredRevenueDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredRevenueDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueDisclosureTextBlock" xlink:to="us-gaap_DeferredRevenueDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CustomerDepositsTextBlock" xlink:label="gass_CustomerDepositsTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_CustomerDepositsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Deposits [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CustomerDepositsTextBlock" xlink:to="gass_CustomerDepositsTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Debt [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-term Debt [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:label="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:to="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_UnrealizedGainLossOnCashFlowHedgesAbstract" xlink:label="gass_UnrealizedGainLossOnCashFlowHedgesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_UnrealizedGainLossOnCashFlowHedgesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain / (Loss) on cash flow hedges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_UnrealizedGainLossOnCashFlowHedgesAbstract" xlink:to="gass_UnrealizedGainLossOnCashFlowHedgesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AssetsLiabilitiesAbstract" xlink:label="gass_AssetsLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="gass_AssetsLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets/(Liabilities):</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AssetsLiabilitiesAbstract" xlink:to="gass_AssetsLiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock" xlink:label="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Non-recurring Basis [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock" xlink:to="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NumeratorAbstract" xlink:label="gass_NumeratorAbstract" xlink:type="locator"/>
    <label xlink:label="gass_NumeratorAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Numerator</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NumeratorAbstract" xlink:to="gass_NumeratorAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DenominatorAbstract" xlink:label="gass_DenominatorAbstract" xlink:type="locator"/>
    <label xlink:label="gass_DenominatorAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Denominator</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DenominatorAbstract" xlink:to="gass_DenominatorAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesAndVesselOperatingExpensesTextBlock" xlink:label="gass_VoyageExpensesAndVesselOperatingExpensesTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesAndVesselOperatingExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage Expenses And Vessel Operating Expenses [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesAndVesselOperatingExpensesTextBlock" xlink:to="gass_VoyageExpensesAndVesselOperatingExpensesTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesTableTextBlock" xlink:label="gass_VoyageExpensesTableTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage Expenses [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesTableTextBlock" xlink:to="gass_VoyageExpensesTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsOperatingExpensesTableTextBlock" xlink:label="gass_VesselsOperatingExpensesTableTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_VesselsOperatingExpensesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessels' Operating Expenses [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesTableTextBlock" xlink:to="gass_VesselsOperatingExpensesTableTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermPurchaseCommitmentTextBlock" xlink:label="us-gaap_LongTermPurchaseCommitmentTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongTermPurchaseCommitmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Purchase Commitment [Table Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermPurchaseCommitmentTextBlock" xlink:to="us-gaap_LongTermPurchaseCommitmentTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDisclosureTextBlock" xlink:label="us-gaap_SaleLeasebackTransactionDisclosureTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleLeasebackTransactionDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction Disclosure [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDisclosureTextBlock" xlink:to="us-gaap_SaleLeasebackTransactionDisclosureTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_LPGMember" xlink:label="gass_LPGMember" xlink:type="locator"/>
    <label xlink:label="gass_LPGMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LPG [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGMember" xlink:to="gass_LPGMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ProductCarriersMember" xlink:label="gass_ProductCarriersMember" xlink:type="locator"/>
    <label xlink:label="gass_ProductCarriersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product Carriers [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ProductCarriersMember" xlink:to="gass_ProductCarriersMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CreationDateAxis" xlink:label="us-gaap_CreationDateAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_CreationDateAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Report Date [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreationDateAxis" xlink:to="us-gaap_CreationDateAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_December312014Member" xlink:label="gass_December312014Member" xlink:type="locator"/>
    <label xlink:label="gass_December312014Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">December 31, 2014 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_December312014Member" xlink:to="gass_December312014Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementEarlyAdoptionAxis" xlink:label="us-gaap_NewAccountingPronouncementEarlyAdoptionAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_NewAccountingPronouncementEarlyAdoptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncement, Early Adoption [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementEarlyAdoptionAxis" xlink:to="us-gaap_NewAccountingPronouncementEarlyAdoptionAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ReductionInDeferredFinanceChargesMember" xlink:label="gass_ReductionInDeferredFinanceChargesMember" xlink:type="locator"/>
    <label xlink:label="gass_ReductionInDeferredFinanceChargesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reduction in Deferred Finance Charges [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInDeferredFinanceChargesMember" xlink:to="gass_ReductionInDeferredFinanceChargesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ReductionInLongTermDebtMember" xlink:label="gass_ReductionInLongTermDebtMember" xlink:type="locator"/>
    <label xlink:label="gass_ReductionInLongTermDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reduction in Long-term Debt [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInLongTermDebtMember" xlink:to="gass_ReductionInLongTermDebtMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ReductionInCurrentPortionOfLongTermDebtMember" xlink:label="gass_ReductionInCurrentPortionOfLongTermDebtMember" xlink:type="locator"/>
    <label xlink:label="gass_ReductionInCurrentPortionOfLongTermDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reduction in Current Portion of Long-term Debt [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInCurrentPortionOfLongTermDebtMember" xlink:to="gass_ReductionInCurrentPortionOfLongTermDebtMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NatureOfExpenseAxis" xlink:label="us-gaap_NatureOfExpenseAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_NatureOfExpenseAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nature of Expense [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfExpenseAxis" xlink:to="us-gaap_NatureOfExpenseAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" xlink:label="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" xlink:type="locator"/>
    <label xlink:label="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Charge Per Day For Superintendent Engineers Onboard The Vessel [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" xlink:to="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SuperintendentFeesMember" xlink:label="gass_SuperintendentFeesMember" xlink:type="locator"/>
    <label xlink:label="gass_SuperintendentFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Superintendent Fees [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SuperintendentFeesMember" xlink:to="gass_SuperintendentFeesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CommissionExpensesMember" xlink:label="gass_CommissionExpensesMember" xlink:type="locator"/>
    <label xlink:label="gass_CommissionExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commission Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommissionExpensesMember" xlink:to="gass_CommissionExpensesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ReimbursedManagerCompensationMember" xlink:label="gass_ReimbursedManagerCompensationMember" xlink:type="locator"/>
    <label xlink:label="gass_ReimbursedManagerCompensationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reimbursed Compensation Manager [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReimbursedManagerCompensationMember" xlink:to="gass_ReimbursedManagerCompensationMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_OfficeSpaceRentMember" xlink:label="gass_OfficeSpaceRentMember" xlink:type="locator"/>
    <label xlink:label="gass_OfficeSpaceRentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office Space Rent [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OfficeSpaceRentMember" xlink:to="gass_OfficeSpaceRentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_EmiharPetroleumIncMember" xlink:label="gass_EmiharPetroleumIncMember" xlink:type="locator"/>
    <label xlink:label="gass_EmiharPetroleumIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Emihar Petroleum Inc [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EmiharPetroleumIncMember" xlink:to="gass_EmiharPetroleumIncMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsOperatingExpensesMember" xlink:label="gass_VesselsOperatingExpensesMember" xlink:type="locator"/>
    <label xlink:label="gass_VesselsOperatingExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vessels' Operating Expenses [Member]</label>
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    <label xlink:label="us-gaap_MaximumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TwoOfThreeTranchesMember" xlink:label="gass_TwoOfThreeTranchesMember" xlink:type="locator"/>
    <label xlink:label="gass_TwoOfThreeTranchesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Two of Three Tranches [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TwoOfThreeTranchesMember" xlink:to="gass_TwoOfThreeTranchesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_EcoInvictusTermLoanMember" xlink:label="gass_EcoInvictusTermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_EcoInvictusTermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Eco Invictus Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoInvictusTermLoanMember" xlink:to="gass_EcoInvictusTermLoanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_July42014TermLoanMember" xlink:label="gass_July42014TermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_July42014TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">July 4, 2014 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_July42014TermLoanMember" xlink:to="gass_July42014TermLoanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoanMember" xlink:label="gass_TermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanMember" xlink:to="gass_TermLoanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NotToExceedMember" xlink:label="gass_NotToExceedMember" xlink:type="locator"/>
    <label xlink:label="gass_NotToExceedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Not To Exceed [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NotToExceedMember" xlink:to="gass_NotToExceedMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NumeratorMember" xlink:label="gass_NumeratorMember" xlink:type="locator"/>
    <label xlink:label="gass_NumeratorMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Numerator [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NumeratorMember" xlink:to="gass_NumeratorMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Swap1Member" xlink:label="gass_Swap1Member" xlink:type="locator"/>
    <label xlink:label="gass_Swap1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Swap 1 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Swap1Member" xlink:to="gass_Swap1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Swap2Member" xlink:label="gass_Swap2Member" xlink:type="locator"/>
    <label xlink:label="gass_Swap2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Swap 2 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Swap2Member" xlink:to="gass_Swap2Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_AwardTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ThePlanMember" xlink:label="gass_ThePlanMember" xlink:type="locator"/>
    <label xlink:label="gass_ThePlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">The Plan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ThePlanMember" xlink:to="gass_ThePlanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NonVestedRestrictedSharesMember" xlink:label="gass_NonVestedRestrictedSharesMember" xlink:type="locator"/>
    <label xlink:label="gass_NonVestedRestrictedSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Vested Restricted Shares [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonVestedRestrictedSharesMember" xlink:to="gass_NonVestedRestrictedSharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_StatementScenarioAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScenarioForecastMember" xlink:label="us-gaap_ScenarioForecastMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScenarioForecastMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Forecast [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioForecastMember" xlink:to="us-gaap_ScenarioForecastMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Description [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:to="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_EcoNicalVesselMember" xlink:label="gass_EcoNicalVesselMember" xlink:type="locator"/>
    <label xlink:label="gass_EcoNicalVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Eco Nical Vessel [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoNicalVesselMember" xlink:to="gass_EcoNicalVesselMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" xlink:type="locator"/>
    <label xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_March72016TermLoanMember" xlink:label="gass_March72016TermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_March72016TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">March 7, 2016 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_March72016TermLoanMember" xlink:to="gass_March72016TermLoanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_March92016TermLoanMember" xlink:label="gass_March92016TermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_March92016TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">March 9, 2016 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_March92016TermLoanMember" xlink:to="gass_March92016TermLoanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Current</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue" xlink:label="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue" xlink:type="locator"/>
    <label xlink:label="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of Assets, Annual Increase in Undiscounted Cash Flows to Determine Fair Value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue" xlink:to="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue" xlink:label="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue" xlink:type="locator"/>
    <label xlink:label="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of Assets, Inflation Rate for Operating Expenses Used to Determine Fair Value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue" xlink:to="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Estimated Useful Lives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:to="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Assets, Current</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:to="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="us-gaap_NumberOfReportableSegments" xlink:type="locator"/>
    <label xlink:label="us-gaap_NumberOfReportableSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Reportable Segments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfReportableSegments" xlink:to="us-gaap_NumberOfReportableSegments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustment" xlink:label="us-gaap_PriorPeriodReclassificationAdjustment" xlink:type="locator"/>
    <label xlink:label="us-gaap_PriorPeriodReclassificationAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Period Reclassification Adjustment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodReclassificationAdjustment" xlink:to="us-gaap_PriorPeriodReclassificationAdjustment_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ManagementFeePerDayPerVessel" xlink:label="gass_ManagementFeePerDayPerVessel" xlink:type="locator"/>
    <label xlink:label="gass_ManagementFeePerDayPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Per Day Per Vessel</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ManagementFeePerDayPerVessel" xlink:to="gass_ManagementFeePerDayPerVessel_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ManagementFeePerDayPerVesselUnderBareboatCharter" xlink:label="gass_ManagementFeePerDayPerVesselUnderBareboatCharter" xlink:type="locator"/>
    <label xlink:label="gass_ManagementFeePerDayPerVesselUnderBareboatCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Per Day Per Vessel Under Bareboat Charter</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ManagementFeePerDayPerVesselUnderBareboatCharter" xlink:to="gass_ManagementFeePerDayPerVesselUnderBareboatCharter_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselBrokerageCommissionPercentage" xlink:label="gass_VesselBrokerageCommissionPercentage" xlink:type="locator"/>
    <label xlink:label="gass_VesselBrokerageCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessel Brokerage Commission Pecentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselBrokerageCommissionPercentage" xlink:to="gass_VesselBrokerageCommissionPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselBrokerageCommission" xlink:label="gass_VesselBrokerageCommission" xlink:type="locator"/>
    <label xlink:label="gass_VesselBrokerageCommission_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessel Brokerage Commission</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselBrokerageCommission" xlink:to="gass_VesselBrokerageCommission_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SalesAndPurchaseBrokerCommissionFeePercentage" xlink:label="gass_SalesAndPurchaseBrokerCommissionFeePercentage" xlink:type="locator"/>
    <label xlink:label="gass_SalesAndPurchaseBrokerCommissionFeePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales and Purchase Broker Commission Fee Percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SalesAndPurchaseBrokerCommissionFeePercentage" xlink:to="gass_SalesAndPurchaseBrokerCommissionFeePercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SalesandPurchaseBrokerCommissionFee" xlink:label="gass_SalesandPurchaseBrokerCommissionFee" xlink:type="locator"/>
    <label xlink:label="gass_SalesandPurchaseBrokerCommissionFee_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Salesand Purchase Broker Commission Fee</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SalesandPurchaseBrokerCommissionFee" xlink:to="gass_SalesandPurchaseBrokerCommissionFee_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NetGainLossOnSaleVessels" xlink:label="gass_NetGainLossOnSaleVessels" xlink:type="locator"/>
    <label xlink:label="gass_NetGainLossOnSaleVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net (Gain) Loss on Sale of Vessels</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NetGainLossOnSaleVessels" xlink:to="gass_NetGainLossOnSaleVessels_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Amounts of Transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselPurchasePrice" xlink:label="gass_VesselPurchasePrice" xlink:type="locator"/>
    <label xlink:label="gass_VesselPurchasePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessel Purchase Price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselPurchasePrice" xlink:to="gass_VesselPurchasePrice_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions" xlink:label="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances Percentage For Vessels Under Construction Acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions" xlink:to="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties" xlink:label="us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Long-term Loans to Related Parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties" xlink:to="us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_RelatedPartyTransactionVesselConstructionFeePerVessel" xlink:label="gass_RelatedPartyTransactionVesselConstructionFeePerVessel" xlink:type="locator"/>
    <label xlink:label="gass_RelatedPartyTransactionVesselConstructionFeePerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Vessel Construction Fee, Per Vessel (in Euro)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RelatedPartyTransactionVesselConstructionFeePerVessel" xlink:to="gass_RelatedPartyTransactionVesselConstructionFeePerVessel_lbl" xlink:type="arc"/>
    <label xlink:label="gass_RelatedPartyTransactionVesselConstructionFeePerVessel_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Vessel Construction Fee, Per Vessel</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RelatedPartyTransactionVesselConstructionFeePerVessel" xlink:to="gass_RelatedPartyTransactionVesselConstructionFeePerVessel_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_NumberOfVesselsUnderConstruction" xlink:label="gass_NumberOfVesselsUnderConstruction" xlink:type="locator"/>
    <label xlink:label="gass_NumberOfVesselsUnderConstruction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Vessels Under Construction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NumberOfVesselsUnderConstruction" xlink:to="gass_NumberOfVesselsUnderConstruction_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:type="locator"/>
    <label xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Consideration</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SaleLeasebackTransactionTermOfLease" xlink:label="gass_SaleLeasebackTransactionTermOfLease" xlink:type="locator"/>
    <label xlink:label="gass_SaleLeasebackTransactionTermOfLease_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Term of Lease</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SaleLeasebackTransactionTermOfLease" xlink:to="gass_SaleLeasebackTransactionTermOfLease_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:label="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:type="locator"/>
    <label xlink:label="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Held-for-sale, Long Lived, Fair Value Disclosure</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:to="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsGross" xlink:label="us-gaap_DeferredFinanceCostsGross" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredFinanceCostsGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs, Gross</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsGross" xlink:to="us-gaap_DeferredFinanceCostsGross_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts" xlink:type="locator"/>
    <label xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Financing Costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCosts" xlink:to="us-gaap_AmortizationOfFinancingCosts_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition" xlink:label="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition" xlink:type="locator"/>
    <label xlink:label="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Fair Market Value of Vessel Subject to the Minimum Employment Condition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition" xlink:to="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AggregateIndebtedness" xlink:label="us-gaap_AggregateIndebtedness" xlink:type="locator"/>
    <label xlink:label="us-gaap_AggregateIndebtedness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Indebtedness</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AggregateIndebtedness" xlink:to="us-gaap_AggregateIndebtedness_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansPayableToBank" xlink:label="us-gaap_LoansPayableToBank" xlink:type="locator"/>
    <label xlink:label="us-gaap_LoansPayableToBank_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Payable to Bank</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayableToBank" xlink:to="us-gaap_LoansPayableToBank_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ValueToLoanRatio" xlink:label="gass_ValueToLoanRatio" xlink:type="locator"/>
    <label xlink:label="gass_ValueToLoanRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Value to Loan Ratio</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ValueToLoanRatio" xlink:to="gass_ValueToLoanRatio_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets" xlink:label="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets" xlink:type="locator"/>
    <label xlink:label="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Total Debt To Total Maket Value Adjusted Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets" xlink:to="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_EBITDAToInterestExpense" xlink:label="gass_EBITDAToInterestExpense" xlink:type="locator"/>
    <label xlink:label="gass_EBITDAToInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EBITDA to Interest Expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EBITDAToInterestExpense" xlink:to="gass_EBITDAToInterestExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_TermLoanFinancialCovenantsCashRequirement" xlink:label="gass_TermLoanFinancialCovenantsCashRequirement" xlink:type="locator"/>
    <label xlink:label="gass_TermLoanFinancialCovenantsCashRequirement_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan Financial Covenants, Cash Requirement</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanFinancialCovenantsCashRequirement" xlink:to="gass_TermLoanFinancialCovenantsCashRequirement_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PercentageOfDividendsPaidToFreeCashFlow" xlink:label="gass_PercentageOfDividendsPaidToFreeCashFlow" xlink:type="locator"/>
    <label xlink:label="gass_PercentageOfDividendsPaidToFreeCashFlow_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Dividends Paid To Free Cash Flow</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PercentageOfDividendsPaidToFreeCashFlow" xlink:to="gass_PercentageOfDividendsPaidToFreeCashFlow_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtWeightedAverageInterestRate" xlink:label="us-gaap_DebtWeightedAverageInterestRate" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Weighted Average Interest Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtWeightedAverageInterestRate" xlink:to="us-gaap_DebtWeightedAverageInterestRate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="us-gaap_InterestExpenseDebt" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterestExpenseDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseDebt" xlink:to="us-gaap_InterestExpenseDebt_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit" xlink:type="locator"/>
    <label xlink:label="us-gaap_LineOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_QuarterlyCommitmentFeePercentage" xlink:label="gass_QuarterlyCommitmentFeePercentage" xlink:type="locator"/>
    <label xlink:label="gass_QuarterlyCommitmentFeePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Commitment Fee Percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_QuarterlyCommitmentFeePercentage" xlink:to="gass_QuarterlyCommitmentFeePercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeNotionalAmount" xlink:label="invest_DerivativeNotionalAmount" xlink:type="locator"/>
    <label xlink:label="invest_DerivativeNotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_DerivativeNotionalAmount" xlink:to="invest_DerivativeNotionalAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_InterestRateSwapFixedRate" xlink:label="gass_InterestRateSwapFixedRate" xlink:type="locator"/>
    <label xlink:label="gass_InterestRateSwapFixedRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap, Fixed Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_InterestRateSwapFixedRate" xlink:to="gass_InterestRateSwapFixedRate_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DerivativeReferenceRateLIBOR" xlink:label="gass_DerivativeReferenceRateLIBOR" xlink:type="locator"/>
    <label xlink:label="gass_DerivativeReferenceRateLIBOR_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Reference Rate LIBOR</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DerivativeReferenceRateLIBOR" xlink:to="gass_DerivativeReferenceRateLIBOR_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:label="us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeNumberOfInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Number of Instruments Held</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:to="us-gaap_DerivativeNumberOfInstrumentsHeld_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="us-gaap_DerivativeFixedInterestRate" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeFixedInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Fixed Interest Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeFixedInterestRate" xlink:to="us-gaap_DerivativeFixedInterestRate_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ForeignCurrencyForwardContractsConvertedAmount" xlink:label="gass_ForeignCurrencyForwardContractsConvertedAmount" xlink:type="locator"/>
    <label xlink:label="gass_ForeignCurrencyForwardContractsConvertedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Forward Contracts Converted, Amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ForeignCurrencyForwardContractsConvertedAmount" xlink:to="gass_ForeignCurrencyForwardContractsConvertedAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue" xlink:label="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue" xlink:type="locator"/>
    <label xlink:label="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impaired Long-lived Assets, Pre-impairment Carrying Value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue" xlink:to="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:type="locator"/>
    <label xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Authorized Amount (in Dollars)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:type="locator"/>
    <label xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock Acquired, Average Cost Per Share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xlink:type="arc"/>
    <label xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_SharesPublicOffering" xlink:label="gass_SharesPublicOffering" xlink:type="locator"/>
    <label xlink:label="gass_SharesPublicOffering_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Public Offering (in Shares)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SharesPublicOffering" xlink:to="gass_SharesPublicOffering_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleOfStockPricePerShare" xlink:label="us-gaap_SaleOfStockPricePerShare" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleOfStockPricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Price Per Share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockPricePerShare" xlink:to="us-gaap_SaleOfStockPricePerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:label="us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:type="locator"/>
    <label xlink:label="us-gaap_ProceedsFromIssuanceOrSaleOfEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance or Sale of Equity (in Dollars)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:to="us-gaap_ProceedsFromIssuanceOrSaleOfEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts" xlink:label="gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts" xlink:type="locator"/>
    <label xlink:label="gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance of Equity, Net of Issuance Costs (in Dollars)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts" xlink:to="gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_StockRepurchaseProgramAuthorizedAmountAdditional" xlink:label="gass_StockRepurchaseProgramAuthorizedAmountAdditional" xlink:type="locator"/>
    <label xlink:label="gass_StockRepurchaseProgramAuthorizedAmountAdditional_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Authorized Amount, Additional (in Dollars)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_StockRepurchaseProgramAuthorizedAmountAdditional" xlink:to="gass_StockRepurchaseProgramAuthorizedAmountAdditional_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_CommonStockReservedPercentage" xlink:label="gass_CommonStockReservedPercentage" xlink:type="locator"/>
    <label xlink:label="gass_CommonStockReservedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Reserved Percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommonStockReservedPercentage" xlink:to="gass_CommonStockReservedPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Dividends" xlink:label="us-gaap_Dividends" xlink:type="locator"/>
    <label xlink:label="us-gaap_Dividends_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Dividends" xlink:to="us-gaap_Dividends_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="locator"/>
    <label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="locator"/>
    <label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:type="locator"/>
    <label xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_BankGuaranteeToSecureReleaseOfVessel" xlink:label="gass_BankGuaranteeToSecureReleaseOfVessel" xlink:type="locator"/>
    <label xlink:label="gass_BankGuaranteeToSecureReleaseOfVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Guarantee to Secure Release of Vessel</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BankGuaranteeToSecureReleaseOfVessel" xlink:to="gass_BankGuaranteeToSecureReleaseOfVessel_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractReceivableDueOneYearOrLess" xlink:label="us-gaap_ContractReceivableDueOneYearOrLess" xlink:type="locator"/>
    <label xlink:label="us-gaap_ContractReceivableDueOneYearOrLess_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract Receivable, Due in Next Twelve Months</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractReceivableDueOneYearOrLess" xlink:to="us-gaap_ContractReceivableDueOneYearOrLess_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractReceivableDueOneToTwoYears" xlink:label="us-gaap_ContractReceivableDueOneToTwoYears" xlink:type="locator"/>
    <label xlink:label="us-gaap_ContractReceivableDueOneToTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract Receivable, Due in Year Two</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractReceivableDueOneToTwoYears" xlink:to="us-gaap_ContractReceivableDueOneToTwoYears_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractReceivableDueTwoToThreeYears" xlink:label="us-gaap_ContractReceivableDueTwoToThreeYears" xlink:type="locator"/>
    <label xlink:label="us-gaap_ContractReceivableDueTwoToThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract Receivable, Due in Year Three</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractReceivableDueTwoToThreeYears" xlink:to="us-gaap_ContractReceivableDueTwoToThreeYears_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractReceivableDueThreeToFourYears" xlink:label="us-gaap_ContractReceivableDueThreeToFourYears" xlink:type="locator"/>
    <label xlink:label="us-gaap_ContractReceivableDueThreeToFourYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract Receivable, Due in Year Four</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractReceivableDueThreeToFourYears" xlink:to="us-gaap_ContractReceivableDueThreeToFourYears_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractReceivableDueFourToFiveYears" xlink:label="us-gaap_ContractReceivableDueFourToFiveYears" xlink:type="locator"/>
    <label xlink:label="us-gaap_ContractReceivableDueFourToFiveYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract Receivable, Due in Year Five</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractReceivableDueFourToFiveYears" xlink:to="us-gaap_ContractReceivableDueFourToFiveYears_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Deferred Gain, Gross</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:to="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized" xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Current Period Gain Recognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized" xlink:to="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionRentExpense" xlink:label="us-gaap_SaleLeasebackTransactionRentExpense" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleLeasebackTransactionRentExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Rent Expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionRentExpense" xlink:to="us-gaap_SaleLeasebackTransactionRentExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear" xlink:label="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear" xlink:type="locator"/>
    <label xlink:label="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear" xlink:to="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears" xlink:label="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears" xlink:type="locator"/>
    <label xlink:label="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Lease Payments, Sale Leaseback Transactions, within Two Years</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears" xlink:to="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears" xlink:label="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears" xlink:type="locator"/>
    <label xlink:label="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Lease Payments, Sale Leaseback Transactions, within Three Years</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears" xlink:to="us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_PaymentInstallmentForVesselDelivery" xlink:label="gass_PaymentInstallmentForVesselDelivery" xlink:type="locator"/>
    <label xlink:label="gass_PaymentInstallmentForVesselDelivery_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment Installment for Vessel Delivery</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PaymentInstallmentForVesselDelivery" xlink:to="gass_PaymentInstallmentForVesselDelivery_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="us-gaap_ConsolidationPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ConsolidationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationPolicyTextBlock" xlink:to="us-gaap_ConsolidationPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" xlink:type="locator"/>
    <label xlink:label="us-gaap_UseOfEstimates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:label="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:to="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="locator"/>
    <label xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:label="us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:type="locator"/>
    <label xlink:label="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and Other Accounts Receivable, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:to="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" xlink:label="us-gaap_ReceivablesPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesPolicyTextBlock" xlink:to="us-gaap_ReceivablesPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="us-gaap_InventoryPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_InventoryPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryPolicyTextBlock" xlink:to="us-gaap_InventoryPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock" xlink:label="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances for Vessels Under Construction, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock" xlink:to="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VesselsAcquisitionsPolicyTextBlock" xlink:label="gass_VesselsAcquisitionsPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_VesselsAcquisitionsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessels Acquisitions [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsAcquisitionsPolicyTextBlock" xlink:to="gass_VesselsAcquisitionsPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortizationPolicyTextBlock" xlink:label="us-gaap_DepreciationDepletionAndAmortizationPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_DepreciationDepletionAndAmortizationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion, and Amortization [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortizationPolicyTextBlock" xlink:to="us-gaap_DepreciationDepletionAndAmortizationPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock" xlink:label="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting For Special Survey and Dry-Docking Costs [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock" xlink:to="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredChargesPolicyTextBlock" xlink:label="us-gaap_DeferredChargesPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_DeferredChargesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Charges, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredChargesPolicyTextBlock" xlink:to="us-gaap_DeferredChargesPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasePolicyTextBlock" xlink:label="us-gaap_LeasePolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_LeasePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasePolicyTextBlock" xlink:to="us-gaap_LeasePolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativesPolicyTextBlock" xlink:label="us-gaap_DerivativesPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativesPolicyTextBlock" xlink:to="us-gaap_DerivativesPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="locator"/>
    <label xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SegmentDomain" xlink:label="us-gaap_SegmentDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_SegmentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable" xlink:label="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Revenue by Major Customers, by Reporting Segments [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable" xlink:to="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EntityWideRevenueMajorCustomerLineItems" xlink:label="us-gaap_EntityWideRevenueMajorCustomerLineItems" xlink:type="locator"/>
    <label xlink:label="us-gaap_EntityWideRevenueMajorCustomerLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue, Major Customer [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EntityWideRevenueMajorCustomerLineItems" xlink:to="us-gaap_EntityWideRevenueMajorCustomerLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="us-gaap_DebtInstrumentNameDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentNameDomain" xlink:to="us-gaap_DebtInstrumentNameDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note11LongtermDebtDetailsSummaryofLongtermDebtTable" xlink:label="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtTable" xlink:type="locator"/>
    <label xlink:label="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtTable" xlink:to="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems" xlink:label="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems" xlink:to="gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="us-gaap_DerivativeContractTypeDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeContractTypeDomain" xlink:to="us-gaap_DerivativeContractTypeDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_HedgingDesignationDomain" xlink:label="us-gaap_HedgingDesignationDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_HedgingDesignationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingDesignationDomain" xlink:to="us-gaap_HedgingDesignationDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:to="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativesFairValueLineItems" xlink:label="us-gaap_DerivativesFairValueLineItems" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativesFairValueLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives, Fair Value [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativesFairValueLineItems" xlink:to="us-gaap_DerivativesFairValueLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeNameDomain" xlink:label="us-gaap_DerivativeNameDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Name [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNameDomain" xlink:to="us-gaap_DerivativeNameDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:label="us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_OtherComprehensiveIncomeLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income Location [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:to="us-gaap_OtherComprehensiveIncomeLocationDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:type="locator"/>
    <label xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:to="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:type="locator"/>
    <label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement Frequency [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable" xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable" xlink:type="locator"/>
    <label xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Derivatives and Fair Value Disclosures (Details) - Fair Value of Assets and Liabilities Measured on a Recurring Basis [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable" xlink:to="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisLineItems" xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Derivatives and Fair Value Disclosures (Details) - Fair Value of Assets and Liabilities Measured on a Recurring Basis [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisLineItems" xlink:to="gass_Note12DerivativesandFairValueDisclosuresDetailsFairValueofAssetsandLiabilitiesMeasuredonaRecurringBasisLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Class [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable" xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable" xlink:type="locator"/>
    <label xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable" xlink:to="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems" xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems" xlink:to="gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_VoyageExpensesDomain" xlink:label="gass_VoyageExpensesDomain" xlink:type="locator"/>
    <label xlink:label="gass_VoyageExpensesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VoyageExpenses [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesDomain" xlink:to="gass_VoyageExpensesDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable" xlink:label="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable" xlink:type="locator"/>
    <label xlink:label="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable" xlink:to="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems" xlink:label="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems" xlink:to="gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPrinciplesEarlyAdoptionMember" xlink:label="us-gaap_NewAccountingPrinciplesEarlyAdoptionMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_NewAccountingPrinciplesEarlyAdoptionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Principles, Early Adoption [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPrinciplesEarlyAdoptionMember" xlink:to="us-gaap_NewAccountingPrinciplesEarlyAdoptionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefaultFinancialStatementsDateMember" xlink:label="us-gaap_DefaultFinancialStatementsDateMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_DefaultFinancialStatementsDateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Statement Filing Date [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefaultFinancialStatementsDateMember" xlink:to="us-gaap_DefaultFinancialStatementsDateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note2SignificantAccountingPoliciesDetailsTable" xlink:label="gass_Note2SignificantAccountingPoliciesDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note2SignificantAccountingPoliciesDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 2 - Significant Accounting Policies (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note2SignificantAccountingPoliciesDetailsTable" xlink:to="gass_Note2SignificantAccountingPoliciesDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note2SignificantAccountingPoliciesDetailsLineItems" xlink:label="gass_Note2SignificantAccountingPoliciesDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note2SignificantAccountingPoliciesDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 2 - Significant Accounting Policies (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note2SignificantAccountingPoliciesDetailsLineItems" xlink:to="gass_Note2SignificantAccountingPoliciesDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="us-gaap_RelatedPartyDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="us-gaap_RelatedPartyTransactionDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDomain" xlink:to="us-gaap_RelatedPartyTransactionDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:label="us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_InterimPeriodCostsNotAllocableDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interim Period, Costs Not Allocable [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:to="us-gaap_InterimPeriodCostsNotAllocableDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note3TransactionswithRelatedPartiesDetailsTable" xlink:label="gass_Note3TransactionswithRelatedPartiesDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note3TransactionswithRelatedPartiesDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Transactions with Related Parties (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note3TransactionswithRelatedPartiesDetailsTable" xlink:to="gass_Note3TransactionswithRelatedPartiesDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note3TransactionswithRelatedPartiesDetailsLineItems" xlink:label="gass_Note3TransactionswithRelatedPartiesDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note3TransactionswithRelatedPartiesDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Transactions with Related Parties (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note3TransactionswithRelatedPartiesDetailsLineItems" xlink:to="gass_Note3TransactionswithRelatedPartiesDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable" xlink:label="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable" xlink:to="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems" xlink:label="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems" xlink:to="gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongLivedAssetsHeldForSaleNameDomain" xlink:label="us-gaap_LongLivedAssetsHeldForSaleNameDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongLivedAssetsHeldForSaleNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Lived Assets Held-for-sale, Name [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongLivedAssetsHeldForSaleNameDomain" xlink:to="us-gaap_LongLivedAssetsHeldForSaleNameDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note6VesselsNetDetailsTable" xlink:label="gass_Note6VesselsNetDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note6VesselsNetDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 6 - Vessels, Net (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note6VesselsNetDetailsTable" xlink:to="gass_Note6VesselsNetDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note6VesselsNetDetailsLineItems" xlink:label="gass_Note6VesselsNetDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note6VesselsNetDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 6 - Vessels, Net (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note6VesselsNetDetailsLineItems" xlink:to="gass_Note6VesselsNetDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="us-gaap_BalanceSheetLocationDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_BalanceSheetLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationDomain" xlink:to="us-gaap_BalanceSheetLocationDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note9DeferredIncomeDetailsTable" xlink:label="gass_Note9DeferredIncomeDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note9DeferredIncomeDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Deferred Income (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note9DeferredIncomeDetailsTable" xlink:to="gass_Note9DeferredIncomeDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note9DeferredIncomeDetailsLineItems" xlink:label="gass_Note9DeferredIncomeDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note9DeferredIncomeDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Deferred Income (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note9DeferredIncomeDetailsLineItems" xlink:to="gass_Note9DeferredIncomeDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NameOfMajorCustomerDomain" xlink:label="us-gaap_NameOfMajorCustomerDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_NameOfMajorCustomerDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NameOfMajorCustomerDomain" xlink:to="us-gaap_NameOfMajorCustomerDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note10CustomerDepositsDetailsTable" xlink:label="gass_Note10CustomerDepositsDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note10CustomerDepositsDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 10 - Customer Deposits (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note10CustomerDepositsDetailsTable" xlink:to="gass_Note10CustomerDepositsDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note10CustomerDepositsDetailsLineItems" xlink:label="gass_Note10CustomerDepositsDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note10CustomerDepositsDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 10 - Customer Deposits (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note10CustomerDepositsDetailsLineItems" xlink:to="gass_Note10CustomerDepositsDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" xlink:type="locator"/>
    <label xlink:label="us-gaap_RangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherCommitmentsDomain" xlink:label="us-gaap_OtherCommitmentsDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_OtherCommitmentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsDomain" xlink:to="us-gaap_OtherCommitmentsDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="us-gaap_CreditFacilityDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_CreditFacilityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityDomain" xlink:to="us-gaap_CreditFacilityDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note11LongtermDebtDetailsTable" xlink:label="gass_Note11LongtermDebtDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note11LongtermDebtDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Long-term Debt (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note11LongtermDebtDetailsTable" xlink:to="gass_Note11LongtermDebtDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note11LongtermDebtDetailsLineItems" xlink:label="gass_Note11LongtermDebtDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note11LongtermDebtDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Long-term Debt (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note11LongtermDebtDetailsLineItems" xlink:to="gass_Note11LongtermDebtDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note12DerivativesandFairValueDisclosuresDetailsTable" xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Derivatives and Fair Value Disclosures (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note12DerivativesandFairValueDisclosuresDetailsTable" xlink:to="gass_Note12DerivativesandFairValueDisclosuresDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems" xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems" xlink:to="gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Award [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note14EquityCompensationPlanDetailsTable" xlink:label="gass_Note14EquityCompensationPlanDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note14EquityCompensationPlanDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 14 - Equity Compensation Plan (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note14EquityCompensationPlanDetailsTable" xlink:to="gass_Note14EquityCompensationPlanDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note14EquityCompensationPlanDetailsLineItems" xlink:label="gass_Note14EquityCompensationPlanDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note14EquityCompensationPlanDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 14 - Equity Compensation Plan (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note14EquityCompensationPlanDetailsLineItems" xlink:to="gass_Note14EquityCompensationPlanDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities, Name [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesNameDomain" xlink:to="us-gaap_AntidilutiveSecuritiesNameDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note15EarningsPerShareDetailsTable" xlink:label="gass_Note15EarningsPerShareDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note15EarningsPerShareDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 15 - Earnings Per Share (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note15EarningsPerShareDetailsTable" xlink:to="gass_Note15EarningsPerShareDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note15EarningsPerShareDetailsLineItems" xlink:label="gass_Note15EarningsPerShareDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note15EarningsPerShareDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 15 - Earnings Per Share (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note15EarningsPerShareDetailsLineItems" xlink:to="gass_Note15EarningsPerShareDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note18CommitmentsandContingenciesDetailsTable" xlink:label="gass_Note18CommitmentsandContingenciesDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note18CommitmentsandContingenciesDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 18 - Commitments and Contingencies (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note18CommitmentsandContingenciesDetailsTable" xlink:to="gass_Note18CommitmentsandContingenciesDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note18CommitmentsandContingenciesDetailsLineItems" xlink:label="gass_Note18CommitmentsandContingenciesDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note18CommitmentsandContingenciesDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 18 - Commitments and Contingencies (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note18CommitmentsandContingenciesDetailsLineItems" xlink:to="gass_Note18CommitmentsandContingenciesDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionNameDomain" xlink:label="us-gaap_SaleLeasebackTransactionNameDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_SaleLeasebackTransactionNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Name [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionNameDomain" xlink:to="us-gaap_SaleLeasebackTransactionNameDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note19SaleandLeasebackofVesselsDetailsTable" xlink:label="gass_Note19SaleandLeasebackofVesselsDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note19SaleandLeasebackofVesselsDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Sale and Leaseback of Vessels (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note19SaleandLeasebackofVesselsDetailsTable" xlink:to="gass_Note19SaleandLeasebackofVesselsDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note19SaleandLeasebackofVesselsDetailsLineItems" xlink:label="gass_Note19SaleandLeasebackofVesselsDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note19SaleandLeasebackofVesselsDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Sale and Leaseback of Vessels (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note19SaleandLeasebackofVesselsDetailsLineItems" xlink:to="gass_Note19SaleandLeasebackofVesselsDetailsLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xlink:type="locator"/>
    <label xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note20SubsequentEventsDetailsTable" xlink:label="gass_Note20SubsequentEventsDetailsTable" xlink:type="locator"/>
    <label xlink:label="gass_Note20SubsequentEventsDetailsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Subsequent Events (Details) [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note20SubsequentEventsDetailsTable" xlink:to="gass_Note20SubsequentEventsDetailsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_Note20SubsequentEventsDetailsLineItems" xlink:label="gass_Note20SubsequentEventsDetailsLineItems" xlink:type="locator"/>
    <label xlink:label="gass_Note20SubsequentEventsDetailsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Subsequent Events (Details) [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Note20SubsequentEventsDetailsLineItems" xlink:to="gass_Note20SubsequentEventsDetailsLineItems_lbl" xlink:type="arc"/>
    <label xlink:label="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy regarding the accounting for special survey and dry-docking costs.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock" xlink:to="gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of decrease in accumulated depreciation, depletion and amortization as a result of the impairment of property, plant and equipment.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" xlink:to="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAcquisitions_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advance payments to ship-builders for vessels under construction or payments to sellers for new vessels.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAcquisitions_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advance payments to ship-builders for vessels under construction or payments to sellers for new vessels.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitions" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitions_lbl3" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure relating to advances paid for vessel acquisitions or construction.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock" xlink:to="gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy regarding advances for vessels under construction.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock" xlink:to="gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advances Percentage For Vessels Under Construction Acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions" xlink:to="gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the income statement line item "amortization of deferred gain on sale and leaseback of vessels."</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels" xlink:to="gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_BankGuaranteeToSecureReleaseOfVessel_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of guarantee made by a bank, lodged to the court, to secure the release of an arrested vessel.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BankGuaranteeToSecureReleaseOfVessel" xlink:to="gass_BankGuaranteeToSecureReleaseOfVessel_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CapitalizedExpenses_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other capitalized costs incurred during the construction period and before a vessel is acquired.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CapitalizedExpenses" xlink:to="gass_CapitalizedExpenses_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CharterHireExpenses_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the income statement line item "charter hire expenses."</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CharterHireExpenses" xlink:to="gass_CharterHireExpenses_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CommonStockReservedPercentage_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of common stock reserved.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommonStockReservedPercentage" xlink:to="gass_CommonStockReservedPercentage_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CustomerDepositsTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for customer deposits.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CustomerDepositsTextBlock" xlink:to="gass_CustomerDepositsTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DeferredFinanceChargesTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred finance charges disclosure.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredFinanceChargesTextBlock" xlink:to="gass_DeferredFinanceChargesTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DeferredGainOnSaleAndLeasebackOfVessels_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the deferred gain on sale of vessels plus the gross deferred gain on the sale leaseback transaction.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredGainOnSaleAndLeasebackOfVessels" xlink:to="gass_DeferredGainOnSaleAndLeasebackOfVessels_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DeferredRevenueRelatedPartyCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The carrying amount of consideration received or receivable from related party as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DeferredRevenueRelatedPartyCurrent" xlink:to="gass_DeferredRevenueRelatedPartyCurrent_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (loss) on derivative instruments that are designated as hedging instruments.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet" xlink:to="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the gains or losses transferred from accumulated other comprehensive income (loss) to the statement of income during the period.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI" xlink:to="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the realized loss on derivative instruments not designated as hedging instruments.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss" xlink:to="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the gains or losses transferred from accumulated other comprehensive income (loss) to the statement of income during the period.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI" xlink:to="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ForeignCurrencyContractRealizedGainLoss_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the realized gain (loss) on foreign currency contract(s).</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ForeignCurrencyContractRealizedGainLoss" xlink:to="gass_ForeignCurrencyContractRealizedGainLoss_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ForeignCurrencyForwardContractsConvertedAmount_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of converted foreign currency forward contracts.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ForeignCurrencyForwardContractsConvertedAmount" xlink:to="gass_ForeignCurrencyForwardContractsConvertedAmount_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the carrying value, before being written down to their fair value, of impaired long-lived assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue" xlink:to="gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">With regard to undiscounted cash flows, this element represents the percentage annual increase in historical average rates that is used in determining the estimates (when there is no charter in place) of the fair value of long-term assets for impairment purposes.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue" xlink:to="gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">With regard to undiscounted cash flows, this element represents the annual inflation rate percentage for operating expenses that is used in determining the estimates of the fair value of long-term assets for impairment purposes.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue" xlink:to="gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the impairment of long-lived assets held for use, before considering the effects on accumulated depreciation.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation" xlink:to="gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_InventoriesBunkers_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount (lower of cost or market) as of the balance sheet date of inventories of bunkers.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_InventoriesBunkers" xlink:to="gass_InventoriesBunkers_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_InventoryLubricants_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount (lower of cost or market) as of the balance sheet date of inventories of lubricants.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_InventoryLubricants" xlink:to="gass_InventoryLubricants_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LongTermDebtBeforeDeferredFinancingCharges_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of long term debt before financing charges have been applied.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtBeforeDeferredFinancingCharges" xlink:to="gass_LongTermDebtBeforeDeferredFinancingCharges_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The current portion of long term debt before financing charges have been applied.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges" xlink:to="gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LongTermDebtNonCurrentBeforeFinancingCharges_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The non-current portion of long term debt before financing charges.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtNonCurrentBeforeFinancingCharges" xlink:to="gass_LongTermDebtNonCurrentBeforeFinancingCharges_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ManagementFeePerDayPerVessel_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed management fee per day per vessel for vessels under time or voyage charters.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ManagementFeePerDayPerVessel" xlink:to="gass_ManagementFeePerDayPerVessel_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ManagementFeePerDayPerVesselUnderBareboatCharter_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed management fee per day per vessel for vessels under bareboat charters.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ManagementFeePerDayPerVesselUnderBareboatCharter" xlink:to="gass_ManagementFeePerDayPerVesselUnderBareboatCharter_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NetGainLossOnSaleVessels_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net (gain)/loss on sale of vessels</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NetGainLossOnSaleVessels" xlink:to="gass_NetGainLossOnSaleVessels_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NonCashFinancingActivityStockRepurchase_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The stock repurchase in noncash financing activities.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonCashFinancingActivityStockRepurchase" xlink:to="gass_NonCashFinancingActivityStockRepurchase_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NonCashInvestingActivityVesselsUnderConstruction_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents vessels under construction in noncash investing activities.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonCashInvestingActivityVesselsUnderConstruction" xlink:to="gass_NonCashInvestingActivityVesselsUnderConstruction_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NumberOfVesselsUnderConstruction_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Vessels Under Construction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NumberOfVesselsUnderConstruction" xlink:to="gass_NumberOfVesselsUnderConstruction_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PaymentInstallmentForVesselDelivery_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents a delivery installment for vessels delivered.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PaymentInstallmentForVesselDelivery" xlink:to="gass_PaymentInstallmentForVesselDelivery_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PaymentsForCustomerDeposits_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments from customer deposits.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PaymentsForCustomerDeposits" xlink:to="gass_PaymentsForCustomerDeposits_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PercentageOfDividendsPaidToFreeCashFlow_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Free Cash Flow allowed to be paid as dividends under current loan covenants.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PercentageOfDividendsPaidToFreeCashFlow" xlink:to="gass_PercentageOfDividendsPaidToFreeCashFlow_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Fair Market Value of Vessel Subject  to the Minimum Employment Condition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition" xlink:to="gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Total Debt To Total Maket Value Adjusted Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets" xlink:to="gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ProceedsFromCancellationOfVesselsAcquisitions_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash inflow that represents the net proceeds related to the cancellation of vessels' acquisitions.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ProceedsFromCancellationOfVesselsAcquisitions" xlink:to="gass_ProceedsFromCancellationOfVesselsAcquisitions_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PropertyPlantAndEquipmentDisposalsNet_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents disposals of property, plant, and equipment.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PropertyPlantAndEquipmentDisposalsNet" xlink:to="gass_PropertyPlantAndEquipmentDisposalsNet_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_QuarterlyCommitmentFeePercentage_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The quarterly commitment fee percentage.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_QuarterlyCommitmentFeePercentage" xlink:to="gass_QuarterlyCommitmentFeePercentage_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_RelatedPartyTransactionVesselConstructionFeePerVessel_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">In the context of an agreement with a related party, this element represents the fixed fee per vessel for the construction of vessels.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RelatedPartyTransactionVesselConstructionFeePerVessel" xlink:to="gass_RelatedPartyTransactionVesselConstructionFeePerVessel_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_RepairsAndMaintenance_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cost of repairs and maintenance during the period.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RepairsAndMaintenance" xlink:to="gass_RepairsAndMaintenance_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_SaleLeasebackTransactionTermOfLease_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the term of the lease under a sale leaseback transaction.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SaleLeasebackTransactionTermOfLease" xlink:to="gass_SaleLeasebackTransactionTermOfLease_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_SalesAndPurchaseBrokerCommissionFeePercentage_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sales and Purchase Broker Commission Fee Percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SalesAndPurchaseBrokerCommissionFeePercentage" xlink:to="gass_SalesAndPurchaseBrokerCommissionFeePercentage_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a non-recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock" xlink:to="gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_SharesPublicOffering_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Shares for public offering.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SharesPublicOffering" xlink:to="gass_SharesPublicOffering_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_StockRepurchaseProgramAuthorizedAmountAdditional_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The additional amount allocated to the stock repurchase program of the company.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_StockRepurchaseProgramAuthorizedAmountAdditional" xlink:to="gass_StockRepurchaseProgramAuthorizedAmountAdditional_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoanFinancialCovenantsCashRequirement_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the minimum aggregate cash balance that is required to be maintained under the financial covenants for term loans.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanFinancialCovenantsCashRequirement" xlink:to="gass_TermLoanFinancialCovenantsCashRequirement_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TreasuryStockParValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the par value per share of treasury stock.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TreasuryStockParValue" xlink:to="gass_TreasuryStockParValue_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ValueToLoanRatio_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Value to Loan Ratio</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ValueToLoanRatio" xlink:to="gass_ValueToLoanRatio_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselBrokerageCommission_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Voyage Expenses paid to related parties consisting of commissions on charter hire agreements, which are paid for by the company, regardless of the charter type.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselBrokerageCommission" xlink:to="gass_VesselBrokerageCommission_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselBrokerageCommissionPercentage_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the commission as a percentage paid to Managers on charter hire agreements.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselBrokerageCommissionPercentage" xlink:to="gass_VesselBrokerageCommissionPercentage_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselPurchasePrice_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vessel Purchase Price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselPurchasePrice" xlink:to="gass_VesselPurchasePrice_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselsAcquisitionsPolicyTextBlock_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy regarding vessel acquisitions.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsAcquisitionsPolicyTextBlock" xlink:to="gass_VesselsAcquisitionsPolicyTextBlock_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselsCancelled_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the book value including capitalized expenses of vessels that were cancelled by the Company during the period.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsCancelled" xlink:to="gass_VesselsCancelled_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselsDelivered_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the book value including capitalized expenses of vessels that were delivered to the Company during the period.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsDelivered" xlink:to="gass_VesselsDelivered_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselsOperatingExpensesExcludingRelatedParty_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vessels' operating expenses, excluding related parties.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesExcludingRelatedParty" xlink:to="gass_VesselsOperatingExpensesExcludingRelatedParty_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VesselsOperatingExpensesRelatedParty_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vessels operating expenses of related parties.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesRelatedParty" xlink:to="gass_VesselsOperatingExpensesRelatedParty_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VoyageExpenses_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">All expenses incurred in relation to vessel voyages, including port expenses, bunkers, and commissions.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpenses" xlink:to="gass_VoyageExpenses_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_VoyageExpensesAxis_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voyage Expenses [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VoyageExpensesAxis" xlink:to="gass_VoyageExpensesAxis_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Charge Per Day For Superintendent Engineers Onboard The Vessel [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember" xlink:to="gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AffiliatedCompanyMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Company [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AffiliatedCompanyMember" xlink:to="gass_AffiliatedCompanyMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_AffiliatedCompanyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about certain "affiliated company" or "affiliated companies" not mentioned specifically by name.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AffiliatedCompanyMember" xlink:to="gass_AffiliatedCompanyMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_BraveMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brave [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BraveMember" xlink:to="gass_BraveMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_BraveMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to the related party referred to as "Brave" in the notes to the financial statements.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BraveMember" xlink:to="gass_BraveMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_BunkersMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bunkers [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_BunkersMember" xlink:to="gass_BunkersMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CapitalizedConstructionSupervisionFeesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized Construction Supervision Fees [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CapitalizedConstructionSupervisionFeesMember" xlink:to="gass_CapitalizedConstructionSupervisionFeesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CapitalizedConstructionSupervisionFeesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to supervision fees paid to a related party for the construction of vessels, which fees were capitalized to the cost of the respective vessels.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CapitalizedConstructionSupervisionFeesMember" xlink:to="gass_CapitalizedConstructionSupervisionFeesMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ChartererAMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Charterer A [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ChartererAMember" xlink:to="gass_ChartererAMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ChartererBMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Charterer B [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ChartererBMember" xlink:to="gass_ChartererBMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CollectionOfAdvancePaymentsMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collection Of Advance Payments [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CollectionOfAdvancePaymentsMember" xlink:to="gass_CollectionOfAdvancePaymentsMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CollectionOfAdvancePaymentsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents amounts received from collection of advances that had been paid to the affiliated company, with the capitalized interest.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CollectionOfAdvancePaymentsMember" xlink:to="gass_CollectionOfAdvancePaymentsMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_CommissionExpensesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commission Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommissionExpensesMember" xlink:to="gass_CommissionExpensesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_CommissionExpensesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commission Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommissionExpensesMember" xlink:to="gass_CommissionExpensesMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_CommissionsMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commissions [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_CommissionsMember" xlink:to="gass_CommissionsMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ConditionMetAtDeliveryMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Condition Met At Delivery [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ConditionMetAtDeliveryMember" xlink:to="gass_ConditionMetAtDeliveryMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ConditionMetAtDeliveryMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Condition Met At Delivery [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ConditionMetAtDeliveryMember" xlink:to="gass_ConditionMetAtDeliveryMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ConditionNotBeingMetMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Condition Not Being Met [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ConditionNotBeingMetMember" xlink:to="gass_ConditionNotBeingMetMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ConditionNotBeingMetMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Condition Not Being Met [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ConditionNotBeingMetMember" xlink:to="gass_ConditionNotBeingMetMember_lbl1" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_December242015TermLoanMember" xlink:label="gass_December242015TermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_December242015TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">December 242015 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_December242015TermLoanMember" xlink:to="gass_December242015TermLoanMember_lbl" xlink:type="arc"/>
    <label xlink:label="gass_December242015TermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term loan taken on December 24th, 2015</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_December242015TermLoanMember" xlink:to="gass_December242015TermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_December312014Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">December 312014 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_December312014Member" xlink:to="gass_December312014Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_December312014Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the reporting date of December 31, 2014.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_December312014Member" xlink:to="gass_December312014Member_lbl1" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_EcoEnigmaVesselMember" xlink:label="gass_EcoEnigmaVesselMember" xlink:type="locator"/>
    <label xlink:label="gass_EcoEnigmaVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Eco Enigma Vessel [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoEnigmaVesselMember" xlink:to="gass_EcoEnigmaVesselMember_lbl" xlink:type="arc"/>
    <label xlink:label="gass_EcoEnigmaVesselMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Eco Enigma Vessel.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoEnigmaVesselMember" xlink:to="gass_EcoEnigmaVesselMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_EcoInvictusTermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Eco Invictus Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoInvictusTermLoanMember" xlink:to="gass_EcoInvictusTermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_EcoInvictusTermLoanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about the term loan entered into with a bank on June 12, 2014 to partially finance the acquisition of one of the LPG carriers under construction, named "Eco Invictus," by one of the Company's wholly owned subsidiaries.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoInvictusTermLoanMember" xlink:to="gass_EcoInvictusTermLoanMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_EcoNicalVesselMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Eco Nical Vessel [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoNicalVesselMember" xlink:to="gass_EcoNicalVesselMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_EcoNicalVesselMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The vessel Eco Nical.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EcoNicalVesselMember" xlink:to="gass_EcoNicalVesselMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_EmiharPetroleumIncMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Emihar Petroleum Inc [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EmiharPetroleumIncMember" xlink:to="gass_EmiharPetroleumIncMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_EmiharPetroleumIncMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to Emihar Petroleum Inc.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_EmiharPetroleumIncMember" xlink:to="gass_EmiharPetroleumIncMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_FirstFacilityAgreementWithABankMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">First Facility Agreement With A Bank [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_FirstFacilityAgreementWithABankMember" xlink:to="gass_FirstFacilityAgreementWithABankMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_FirstFacilityAgreementWithABankMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about a facility agreement entered into with a bank to partially finance the acquisition of one LPG carrier on its delivery and to refinance the existing term loan dated June 25, 2009.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_FirstFacilityAgreementWithABankMember" xlink:to="gass_FirstFacilityAgreementWithABankMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_FirstTrancheMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">First Tranche [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_FirstTrancheMember" xlink:to="gass_FirstTrancheMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_FirstTrancheMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">First tranche release.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_FirstTrancheMember" xlink:to="gass_FirstTrancheMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_GasArcticMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gas Arctic [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasArcticMember" xlink:to="gass_GasArcticMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_GasArcticMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The vessel Gas Arctic</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasArcticMember" xlink:to="gass_GasArcticMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_GasCatharMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gas Cathar [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasCatharMember" xlink:to="gass_GasCatharMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_GasCatharMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about the vessel by the name of Gas Cathar.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasCatharMember" xlink:to="gass_GasCatharMember_lbl1" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_GasHuskyAndGasEscoMember" xlink:label="gass_GasHuskyAndGasEscoMember" xlink:type="locator"/>
    <label xlink:label="gass_GasHuskyAndGasEscoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gas Husky And Gas Esco [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasHuskyAndGasEscoMember" xlink:to="gass_GasHuskyAndGasEscoMember_lbl" xlink:type="arc"/>
    <label xlink:label="gass_GasHuskyAndGasEscoMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to the vessels Gas Husky and Gas Esco.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasHuskyAndGasEscoMember" xlink:to="gass_GasHuskyAndGasEscoMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_GasPremiershipAndGasCatharMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gas Premiership And Gas Cathar [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasPremiershipAndGasCatharMember" xlink:to="gass_GasPremiershipAndGasCatharMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_GasPremiershipAndGasCatharMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about the vessels Gas Premiership and Gas Cathar.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasPremiershipAndGasCatharMember" xlink:to="gass_GasPremiershipAndGasCatharMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_GasPremiershipMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gas Premiership [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasPremiershipMember" xlink:to="gass_GasPremiershipMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_GasPremiershipMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about the vessel by the name of Gas Premiership.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_GasPremiershipMember" xlink:to="gass_GasPremiershipMember_lbl1" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_July292014TermLoanMember" xlink:label="gass_July292014TermLoanMember" xlink:type="locator"/>
    <label xlink:label="gass_July292014TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">July 292014 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_July292014TermLoanMember" xlink:to="gass_July292014TermLoanMember_lbl" xlink:type="arc"/>
    <label xlink:label="gass_July292014TermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A term loan taken on July 29th, 2014.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_July292014TermLoanMember" xlink:to="gass_July292014TermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_July42014TermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">July 42014 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_July42014TermLoanMember" xlink:to="gass_July42014TermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_July42014TermLoanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the term loan entered into with a bank on July 4, 2014 to partially finance the acquisition of two LPG carriers under construction on their delivery.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_July42014TermLoanMember" xlink:to="gass_July42014TermLoanMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2012FromSellerMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG Carriers Contracted In 2012 From Seller [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2012FromSellerMember" xlink:to="gass_LPGCarriersContractedIn2012FromSellerMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2012FromSellerMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The LPG carriers under construction contracted in 2012.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2012FromSellerMember" xlink:to="gass_LPGCarriersContractedIn2012FromSellerMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2013FromSellerMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG Carriers Contracted In 2013 From Seller [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2013FromSellerMember" xlink:to="gass_LPGCarriersContractedIn2013FromSellerMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2013FromSellerMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The LPG carriers under construction that were contracted in 2013.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2013FromSellerMember" xlink:to="gass_LPGCarriersContractedIn2013FromSellerMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2013FromShipBuilderMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG Carriers Contracted In 2013 From Ship Builder [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2013FromShipBuilderMember" xlink:to="gass_LPGCarriersContractedIn2013FromShipBuilderMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2013FromShipBuilderMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The LPG carriers under construction that were contracted in 2013 from a ship-builder.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2013FromShipBuilderMember" xlink:to="gass_LPGCarriersContractedIn2013FromShipBuilderMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2014FromSellersMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG Carriers Contracted In 2014 From Sellers [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2014FromSellersMember" xlink:to="gass_LPGCarriersContractedIn2014FromSellersMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2014FromSellersMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to LPG carriers contracted in 2014 from sellers.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2014FromSellersMember" xlink:to="gass_LPGCarriersContractedIn2014FromSellersMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2014FromShipBuildersMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG Carriers Contracted In 2014 From Ship Builders [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2014FromShipBuildersMember" xlink:to="gass_LPGCarriersContractedIn2014FromShipBuildersMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGCarriersContractedIn2014FromShipBuildersMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to LPG carriers contracted in 2014 from ship-builders.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGCarriersContractedIn2014FromShipBuildersMember" xlink:to="gass_LPGCarriersContractedIn2014FromShipBuildersMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGMember" xlink:to="gass_LPGMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to LPG.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGMember" xlink:to="gass_LPGMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LPGVesselsMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LPG Vessels [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGVesselsMember" xlink:to="gass_LPGVesselsMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LPGVesselsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to "LPG vessels."</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LPGVesselsMember" xlink:to="gass_LPGVesselsMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LesserOfMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lesser Of [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LesserOfMember" xlink:to="gass_LesserOfMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LesserOfMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lesser of [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LesserOfMember" xlink:to="gass_LesserOfMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LongLivedAssetsHeldAndUsedMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Lived Assets Held And Used [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongLivedAssetsHeldAndUsedMember" xlink:to="gass_LongLivedAssetsHeldAndUsedMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_LongLivedAssetsHeldAndUsedMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to long-lived assets held and used.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongLivedAssetsHeldAndUsedMember" xlink:to="gass_LongLivedAssetsHeldAndUsedMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_March72016TermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">March 72016 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_March72016TermLoanMember" xlink:to="gass_March72016TermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_March72016TermLoanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The term loan entered into March 7th, 2016.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_March72016TermLoanMember" xlink:to="gass_March72016TermLoanMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_March92016TermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">March 92016 Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_March92016TermLoanMember" xlink:to="gass_March92016TermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_March92016TermLoanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term loan entered into on March 9th, 2016.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_March92016TermLoanMember" xlink:to="gass_March92016TermLoanMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_Navig8FaithMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Navig 8 Faith [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Navig8FaithMember" xlink:to="gass_Navig8FaithMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_Navig8FaithMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vessel by the name of Navig8 Faith.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Navig8FaithMember" xlink:to="gass_Navig8FaithMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_NonVestedRestrictedSharesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Vested Restricted Shares [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NonVestedRestrictedSharesMember" xlink:to="gass_NonVestedRestrictedSharesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NotToExceedMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not To Exceed [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NotToExceedMember" xlink:to="gass_NotToExceedMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NotToExceedMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Not To Exceed [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NotToExceedMember" xlink:to="gass_NotToExceedMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_NumeratorMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Numerator [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NumeratorMember" xlink:to="gass_NumeratorMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_NumeratorMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The numerator.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_NumeratorMember" xlink:to="gass_NumeratorMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_OfficeSpaceRentMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Space Rent [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OfficeSpaceRentMember" xlink:to="gass_OfficeSpaceRentMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_OfficeSpaceRentMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Office Space Rent [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OfficeSpaceRentMember" xlink:to="gass_OfficeSpaceRentMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_OtherVoyageExpensesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Voyage Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_OtherVoyageExpensesMember" xlink:to="gass_OtherVoyageExpensesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_PortExpensesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Port Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_PortExpensesMember" xlink:to="gass_PortExpensesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ProductCarriersMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product Carriers [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ProductCarriersMember" xlink:to="gass_ProductCarriersMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ReductionInCurrentPortionOfLongTermDebtMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reduction In Current Portion Of Long Term Debt [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInCurrentPortionOfLongTermDebtMember" xlink:to="gass_ReductionInCurrentPortionOfLongTermDebtMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ReductionInCurrentPortionOfLongTermDebtMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the reduction in the current portion of long-term debt according to the FASB issued ASU No. 2015-03.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInCurrentPortionOfLongTermDebtMember" xlink:to="gass_ReductionInCurrentPortionOfLongTermDebtMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ReductionInDeferredFinanceChargesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reduction In Deferred Finance Charges [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInDeferredFinanceChargesMember" xlink:to="gass_ReductionInDeferredFinanceChargesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ReductionInDeferredFinanceChargesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the reduction in deferred finance charges with a corresponding decrease in long-term debt and current portion of long-term debt according to the FASB issued ASU No. 2015-03.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInDeferredFinanceChargesMember" xlink:to="gass_ReductionInDeferredFinanceChargesMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ReductionInLongTermDebtMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reduction In Long Term Debt [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInLongTermDebtMember" xlink:to="gass_ReductionInLongTermDebtMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ReductionInLongTermDebtMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the reduction in long-term debt according to the FASB issued ASU No. 2015-03.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReductionInLongTermDebtMember" xlink:to="gass_ReductionInLongTermDebtMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ReimbursedManagerCompensationMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reimbursed Manager Compensation [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReimbursedManagerCompensationMember" xlink:to="gass_ReimbursedManagerCompensationMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ReimbursedManagerCompensationMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reimbursed Compensation Manager [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ReimbursedManagerCompensationMember" xlink:to="gass_ReimbursedManagerCompensationMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_RemainingVesselsMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remaining Vessels [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RemainingVesselsMember" xlink:to="gass_RemainingVesselsMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_RemainingVesselsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The remaining vessels not previously described.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_RemainingVesselsMember" xlink:to="gass_RemainingVesselsMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_SecondFacilityAgreeementWithBankMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Second Facility Agreeement With Bank [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SecondFacilityAgreeementWithBankMember" xlink:to="gass_SecondFacilityAgreeementWithBankMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_SecondFacilityAgreeementWithBankMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about a facility agreement entered into with a bank to refinance the existing term loan dated February 18, 2009.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SecondFacilityAgreeementWithBankMember" xlink:to="gass_SecondFacilityAgreeementWithBankMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_SecondTrancheMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Second Tranche [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SecondTrancheMember" xlink:to="gass_SecondTrancheMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_SecondTrancheMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Second tranche release.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SecondTrancheMember" xlink:to="gass_SecondTrancheMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_SpikeMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spike [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SpikeMember" xlink:to="gass_SpikeMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_SpikeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tanker by the name of "Spike"</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SpikeMember" xlink:to="gass_SpikeMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_SuperintendentFeesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Superintendent Fees [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_SuperintendentFeesMember" xlink:to="gass_SuperintendentFeesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_Swap1Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swap 1 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Swap1Member" xlink:to="gass_Swap1Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_Swap1Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Swap 1</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Swap1Member" xlink:to="gass_Swap1Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_Swap2Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swap 2 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Swap2Member" xlink:to="gass_Swap2Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_Swap2Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Swap 2</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_Swap2Member" xlink:to="gass_Swap2Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan10Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 10 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan10Member" xlink:to="gass_TermLoan10Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan11Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 11 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan11Member" xlink:to="gass_TermLoan11Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan12Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 12 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan12Member" xlink:to="gass_TermLoan12Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan13Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 13 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan13Member" xlink:to="gass_TermLoan13Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan14Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 14 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan14Member" xlink:to="gass_TermLoan14Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan14Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan 14.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan14Member" xlink:to="gass_TermLoan14Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan15Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 15 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan15Member" xlink:to="gass_TermLoan15Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan15Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about the fifteenth term loan mentioned.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan15Member" xlink:to="gass_TermLoan15Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan16Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 16 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan16Member" xlink:to="gass_TermLoan16Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan16Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about the sixteenth term loan mention.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan16Member" xlink:to="gass_TermLoan16Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan17Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 17 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan17Member" xlink:to="gass_TermLoan17Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan17Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information regarding the seventeenth term loan.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan17Member" xlink:to="gass_TermLoan17Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan18Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 18 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan18Member" xlink:to="gass_TermLoan18Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan18Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information regarding the eighteenth term loan.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan18Member" xlink:to="gass_TermLoan18Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan19Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 19 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan19Member" xlink:to="gass_TermLoan19Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan19Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information regarding the nineteenth term loan.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan19Member" xlink:to="gass_TermLoan19Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan1Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 1 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan1Member" xlink:to="gass_TermLoan1Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan20Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 20 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan20Member" xlink:to="gass_TermLoan20Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan20Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information regarding the twentieth term loan.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan20Member" xlink:to="gass_TermLoan20Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan21Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 21 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan21Member" xlink:to="gass_TermLoan21Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan21Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information regarding the twenty first term loan.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan21Member" xlink:to="gass_TermLoan21Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan2Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 2 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan2Member" xlink:to="gass_TermLoan2Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan2Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to the second term loan mentioned in context.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan2Member" xlink:to="gass_TermLoan2Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan3Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 3 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan3Member" xlink:to="gass_TermLoan3Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan4Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 4 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan4Member" xlink:to="gass_TermLoan4Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan5Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 5 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan5Member" xlink:to="gass_TermLoan5Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan6Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 6 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan6Member" xlink:to="gass_TermLoan6Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan7Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 7 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan7Member" xlink:to="gass_TermLoan7Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoan8Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 8 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoan8Member" xlink:to="gass_TermLoan8Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoanEnteredIntoOnDecember202013Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan Entered Into On December 202013 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanEnteredIntoOnDecember202013Member" xlink:to="gass_TermLoanEnteredIntoOnDecember202013Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoanEnteredIntoOnDecember202013Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about a term loan entered into on December 20, 2013.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanEnteredIntoOnDecember202013Member" xlink:to="gass_TermLoanEnteredIntoOnDecember202013Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TermLoanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanMember" xlink:to="gass_TermLoanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoanWithBankMarch242014Member_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan With Bank March 242014 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanWithBankMarch242014Member" xlink:to="gass_TermLoanWithBankMarch242014Member_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TermLoanWithBankMarch242014Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about a term loan entered into with a bank on March 24, 2014 to partially finance the acquisition of three LPG carriers under construction.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TermLoanWithBankMarch242014Member" xlink:to="gass_TermLoanWithBankMarch242014Member_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TheGasKaizenAndTheGasCrystalVesselsMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Gas Kaizen And The Gas Crystal Vessels [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TheGasKaizenAndTheGasCrystalVesselsMember" xlink:to="gass_TheGasKaizenAndTheGasCrystalVesselsMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TheGasKaizenAndTheGasCrystalVesselsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents both the Gas Kaizen and the Gas Crystal vessels.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TheGasKaizenAndTheGasCrystalVesselsMember" xlink:to="gass_TheGasKaizenAndTheGasCrystalVesselsMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ThePlanMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Plan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ThePlanMember" xlink:to="gass_ThePlanMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ThePlanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Plan [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ThePlanMember" xlink:to="gass_ThePlanMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_ThirdTrancheMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Third Tranche [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ThirdTrancheMember" xlink:to="gass_ThirdTrancheMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_ThirdTrancheMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Relating to the third tranche</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ThirdTrancheMember" xlink:to="gass_ThirdTrancheMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TimeAndBareboatDeferredRevenueMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Time And Bareboat Deferred Revenue [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TimeAndBareboatDeferredRevenueMember" xlink:to="gass_TimeAndBareboatDeferredRevenueMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TimeAndBareboatDeferredRevenueMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the time and bareboat deferred revenue.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TimeAndBareboatDeferredRevenueMember" xlink:to="gass_TimeAndBareboatDeferredRevenueMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_TwoOfThreeTranchesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Of Three Tranches [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TwoOfThreeTranchesMember" xlink:to="gass_TwoOfThreeTranchesMember_lbl0" xlink:type="arc"/>
    <label xlink:label="gass_TwoOfThreeTranchesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about two of the three tranches.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_TwoOfThreeTranchesMember" xlink:to="gass_TwoOfThreeTranchesMember_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_VesselsOperatingExpensesMember_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vessels Operating Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesMember" xlink:to="gass_VesselsOperatingExpensesMember_lbl0" xlink:type="arc"/>
    <loc xlink:href="gass-20151231.xsd#gass_DocumentAndEntityInformationAbstract" xlink:label="gass_DocumentAndEntityInformationAbstract" xlink:type="locator"/>
    <label xlink:label="gass_DocumentAndEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document and Entity Information [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DocumentAndEntityInformationAbstract" xlink:to="gass_DocumentAndEntityInformationAbstract_lbl" xlink:type="arc"/>
    <label xlink:label="gass_ForeignCurrencyContractRealizedGainLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ForeignCurrencyContractRealizedGainLoss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_ForeignCurrencyContractRealizedGainLoss" xlink:to="gass_ForeignCurrencyContractRealizedGainLoss_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_LongTermDebtNonCurrentBeforeFinancingCharges_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LongTermDebtNonCurrentBeforeFinancingCharges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_LongTermDebtNonCurrentBeforeFinancingCharges" xlink:to="gass_LongTermDebtNonCurrentBeforeFinancingCharges_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment" xlink:to="gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss" xlink:to="gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_VesselsOperatingExpensesRelatedParty_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VesselsOperatingExpensesRelatedParty</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gass_VesselsOperatingExpensesRelatedParty" xlink:to="gass_VesselsOperatingExpensesRelatedParty_lbl1" xlink:type="arc"/>
    <label xlink:label="gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet</label>
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    <label xlink:label="gass_RepairsAndMaintenance_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">RepairsAndMaintenance</label>
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    <label xlink:label="gass_VoyageExpensesIncludingRelatedParty_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VoyageExpensesIncludingRelatedParty</label>
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    <label xlink:label="gass_PropertyPlantAndEquipmentDisposalsNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PropertyPlantAndEquipmentDisposalsNet</label>
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    <label xlink:label="gass_VesselsDelivered_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VesselsDelivered</label>
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    <label xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Disposals</label>
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    <label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
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    <label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
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    <label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" xlink:type="locator"/>
    <label xlink:label="dei_EntityPublicFloat_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Public Float</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
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    <label xlink:label="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Transfers and Changes</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
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    <label xlink:label="us-gaap_PurchaseObligationDueInNextTwelveMonths_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase Obligation, Due in Next Twelve Months</label>
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    <label xlink:label="us-gaap_Assets_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Standard Label]</label>
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    <label xlink:label="us-gaap_TreasuryStockValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Value</label>
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    <label xlink:label="us-gaap_RevenuesAbstract_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</label>
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    <label xlink:label="us-gaap_IncreaseDecreaseInCustomerAdvances_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Customer Advances</label>
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    <label xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transaction Gain (Loss), Unrealized</label>
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    <label xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Sale or Disposal of Property, Plant and Equipment</label>
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    <label xlink:label="us-gaap_Liabilities_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Derivative Liabilities, at Fair Value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue" xlink:to="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_NonoperatingGainsLosses_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonoperating Gains (Losses)</label>
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    <label xlink:label="us-gaap_PaymentsForRepurchaseOfEquity_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Equity</label>
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    <label xlink:label="us-gaap_IncreaseInRestrictedCash_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in Restricted Cash</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseInRestrictedCash" xlink:to="us-gaap_IncreaseInRestrictedCash_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset, Noncurrent</label>
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    <label xlink:label="us-gaap_InterestAndDebtExpense_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Debt Expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndDebtExpense" xlink:to="us-gaap_InterestAndDebtExpense_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <label xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <label xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</label>
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    <label xlink:label="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted</label>
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    <label xlink:label="us-gaap_OperatingExpenses_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses</label>
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    <label xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Financing Costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfFinancingCosts" xlink:to="us-gaap_PaymentsOfFinancingCosts_lbl0" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <label xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</label>
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    <label xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Derivative Instruments, Net, Pretax</label>
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    <label xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Deferred Revenue</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Receivables</label>
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    <label xlink:label="us-gaap_PurchaseObligation_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase Obligation</label>
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    <label xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedParties_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Due to Related Parties</label>
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    <label xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl0" xlink:type="arc"/>
    <label xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest</label>
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    <label xlink:label="us-gaap_AssetsCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Current</label>
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    <label xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
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    <label xlink:label="us-gaap_LiabilitiesCurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Current</label>
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    <label xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</label>
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    <label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Two</label>
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    <label xlink:label="us-gaap_AssetsNoncurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Noncurrent</label>
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    <label xlink:label="us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <label xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
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    <label xlink:label="us-gaap_OperatingCostsAndExpenses_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Costs and Expenses</label>
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    <label xlink:label="us-gaap_Revenues_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Standard Label]</label>
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    <label xlink:label="us-gaap_StockholdersEquity_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent</label>
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    <label xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <label xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</label>
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    <label xlink:label="us-gaap_StockRepurchasedDuringPeriodValue_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</label>
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    <label xlink:label="us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), before Reclassifications, Net of Tax</label>
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    <label xlink:label="us-gaap_LongTermDebt_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <label xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
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    <label xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Disposition of Property Plant Equipment</label>
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    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" xlink:type="locator"/>
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    <label xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue, Noncurrent</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>13
<FILENAME>gass-20151231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
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<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6820826592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2015 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">StealthGas Inc.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">gass<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">40,517,676<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001328919<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2015<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2015<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>dei:fiscalPeriodItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<td>dei_</td>
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<td>xbrli:gYearItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6821691600">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 100,062,957<span></span>
</td>
<td class="nump">$ 129,114,803<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Receivable from related party</a></td>
<td class="nump">112,895<span></span>
</td>
<td class="nump">104,476<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Trade and other receivables</a></td>
<td class="nump">4,743,869<span></span>
</td>
<td class="nump">3,211,563<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivablesNetCurrent', window );">Claims receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,273<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
<td class="nump">2,916,254<span></span>
</td>
<td class="nump">2,958,666<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Advances and prepayments</a></td>
<td class="nump">1,249,402<span></span>
</td>
<td class="nump">1,386,003<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">13,455,766<span></span>
</td>
<td class="nump">2,896,677<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent', window );">Vessel held for sale</a></td>
<td class="nump">831,226<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">123,372,369<span></span>
</td>
<td class="nump">139,742,461<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NonCurrentAssetsAbstract', window );"><strong>Non current assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitions', window );">Advances for vessels under construction and acquisitions</a></td>
<td class="nump">44,031,882<span></span>
</td>
<td class="nump">88,965,085<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Vessels, net</a></td>
<td class="nump">864,689,888<span></span>
</td>
<td class="nump">711,352,845<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivables', window );">Other receivables from related party</a></td>
<td class="nump">115,599<span></span>
</td>
<td class="nump">228,494<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent', window );">Restricted cash</a></td>
<td class="nump">5,146,877<span></span>
</td>
<td class="nump">2,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNoncurrentNet', window );">Deferred finance charges</a></td>
<td class="nump">390,000<span></span>
</td>
<td class="nump">1,569,375<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Fair value of derivatives</a></td>
<td class="nump">127,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNoncurrent', window );">Total non current assets</a></td>
<td class="nump">914,501,801<span></span>
</td>
<td class="nump">804,615,799<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">1,037,874,170<span></span>
</td>
<td class="nump">944,358,260<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Payable to related party</a></td>
<td class="nump">9,188,852<span></span>
</td>
<td class="nump">4,941,896<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Trade accounts payable</a></td>
<td class="nump">8,328,878<span></span>
</td>
<td class="nump">8,843,593<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
<td class="nump">5,602,939<span></span>
</td>
<td class="nump">3,903,027<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred income</a></td>
<td class="nump">4,954,193<span></span>
</td>
<td class="nump">6,711,945<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DeferredRevenueRelatedPartyCurrent', window );">Deferred income &#8211; related party</a></td>
<td class="nump">413,157<span></span>
</td>
<td class="nump">180,383<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Fair value of derivatives</a></td>
<td class="nump">297,656<span></span>
</td>
<td class="nump">583,368<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion of long-term debt</a></td>
<td class="nump">74,928,451<span></span>
</td>
<td class="nump">42,125,662<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">103,714,126<span></span>
</td>
<td class="nump">67,289,874<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NonCurrentLiabilitiesAbstract', window );"><strong>Non current liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesNoncurrent', window );">Fair value of derivatives</a></td>
<td class="nump">681,197<span></span>
</td>
<td class="nump">1,873,295<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerDepositsNoncurrent', window );">Customer deposits</a></td>
<td class="nump">2,556,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DeferredGainOnSaleAndLeasebackOfVessels', window );">Deferred gain on sale and leaseback of vessels</a></td>
<td class="nump">580,701<span></span>
</td>
<td class="nump">775,741<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Deferred income</a></td>
<td class="nump">56,183<span></span>
</td>
<td class="nump">172,428<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term debt</a></td>
<td class="nump">347,234,103<span></span>
</td>
<td class="nump">281,856,648<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrent', window );">Total noncurrent liabilities</a></td>
<td class="nump">351,108,884<span></span>
</td>
<td class="nump">284,678,112<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 454,823,010<span></span>
</td>
<td class="nump">$ 351,967,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders&#8217; equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Capital stock, 5,000,000 preferred shares authorized and zero outstanding with a par value of $0.01 per share, 100,000,000 common shares authorized 44,285,108 shares issued and 42,889,773 shares outstanding at December 31, 2014 and 44,285,108 shares issued and 40,517,676 shares outstanding at December 31, 2015 with a par value of $0.01 per share</a></td>
<td class="nump">$ 442,850<span></span>
</td>
<td class="nump">$ 442,850<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock, 1,395,335 shares at December 31, 2014 and 3,767,432 shares at December 31, 2015 with a par value of $0.01 per share</a></td>
<td class="num">(20,486,872)<span></span>
</td>
<td class="num">(7,541,264)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">501,002,146<span></span>
</td>
<td class="nump">499,862,062<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">102,486,324<span></span>
</td>
<td class="nump">99,919,646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss</a></td>
<td class="num">(393,288)<span></span>
</td>
<td class="num">(293,020)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders&#8217; equity</a></td>
<td class="nump">583,051,160<span></span>
</td>
<td class="nump">592,390,274<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders&#8217; equity</a></td>
<td class="nump">$ 1,037,874,170<span></span>
</td>
<td class="nump">$ 944,358,260<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advance payments to ship-builders for vessels under construction or payments to sellers for new vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_AdvancesForVesselsUnderConstructionAndAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DeferredGainOnSaleAndLeasebackOfVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the deferred gain on sale of vessels plus the gross deferred gain on the sale leaseback transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DeferredGainOnSaleAndLeasebackOfVessels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DeferredRevenueRelatedPartyCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable from related party as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DeferredRevenueRelatedPartyCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_NonCurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_NonCurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_NonCurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_NonCurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of assets held-for-sale that are not part of a disposal group, expected to be sold within a year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 15<br> -Paragraph 4<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6390208&amp;loc=d3e400-110220<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.10-17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 18<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerDepositsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of money or property received from customers that is to be returned upon satisfactory contract completion or as partial prepayment for goods or services to be provided in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CustomerDepositsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNoncurrentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of long-term deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNoncurrentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation due after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 22, 23, 24, 25, 26, 27<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amounts due as of the balance sheet date from parties or arising from transactions not otherwise specified in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivablesNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of other receivables, net, due within one year of the balance sheet date (or one operating cycle, if longer) from third parties or arising from transactions not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherReceivablesNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6823879472">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common Stock, Par Value (in Dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common Stock, Shares Authorized</a></td>
<td class="nump">100,000,000<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common Stock, Shares Issued</a></td>
<td class="nump">44,285,108<span></span>
</td>
<td class="nump">44,285,108<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common Stock, Shares Outstanding</a></td>
<td class="nump">40,517,676<span></span>
</td>
<td class="nump">42,889,773<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred Shares Authorized</a></td>
<td class="nump">5,000,000<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred Shares Outstanding</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Shares Par Value (in Dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury stock, shares</a></td>
<td class="nump">3,767,432<span></span>
</td>
<td class="nump">1,395,335<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_TreasuryStockParValue', window );">Treasury stock, par value (in Dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_TreasuryStockParValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the par value per share of treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_TreasuryStockParValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<SEQUENCE>18
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6821228944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Income - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Revenues</a></td>
<td class="nump">$ 131,501,881<span></span>
</td>
<td class="nump">$ 122,158,892<span></span>
</td>
<td class="nump">$ 111,667,565<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Revenues &#8211; related party</a></td>
<td class="nump">9,814,000<span></span>
</td>
<td class="nump">9,814,000<span></span>
</td>
<td class="nump">9,814,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenues</a></td>
<td class="nump">141,315,881<span></span>
</td>
<td class="nump">131,972,892<span></span>
</td>
<td class="nump">121,481,565<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpenses', window );">Voyage expenses</a></td>
<td class="nump">15,849,855<span></span>
</td>
<td class="nump">12,474,090<span></span>
</td>
<td class="nump">12,819,866<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesRelatedParty', window );">Voyage expenses &#8211; related party</a></td>
<td class="nump">1,725,683<span></span>
</td>
<td class="nump">1,613,421<span></span>
</td>
<td class="nump">1,482,764<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CharterHireExpenses', window );">Charter hire expenses</a></td>
<td class="nump">4,124,960<span></span>
</td>
<td class="nump">320,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsOperatingExpensesExcludingRelatedParty', window );">Vessels&#8217; operating expenses</a></td>
<td class="nump">46,477,583<span></span>
</td>
<td class="nump">41,335,984<span></span>
</td>
<td class="nump">32,439,404<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsOperatingExpensesRelatedParty', window );">Vessels&#8217; operating expenses &#8211; related party</a></td>
<td class="nump">4,177,042<span></span>
</td>
<td class="nump">4,099,352<span></span>
</td>
<td class="nump">4,084,149<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfPropertyRepairsAndMaintenance', window );">Dry-docking costs</a></td>
<td class="nump">1,774,905<span></span>
</td>
<td class="nump">465,681<span></span>
</td>
<td class="nump">3,160,251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees &#8211; related party</a></td>
<td class="nump">6,452,145<span></span>
</td>
<td class="nump">5,501,675<span></span>
</td>
<td class="nump">4,807,010<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative expenses (including $1,323,836, $1,394,025, and $1,150,451, to related party)</a></td>
<td class="nump">3,655,316<span></span>
</td>
<td class="nump">3,150,929<span></span>
</td>
<td class="nump">2,816,397<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">35,857,507<span></span>
</td>
<td class="nump">33,811,607<span></span>
</td>
<td class="nump">30,761,673<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment loss</a></td>
<td class="nump">8,238,987<span></span>
</td>
<td class="nump">6,168,747<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Net gain on sale of vessels</a></td>
<td class="num">(33,251)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total expenses</a></td>
<td class="nump">128,300,732<span></span>
</td>
<td class="nump">108,942,290<span></span>
</td>
<td class="nump">92,371,514<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income from operations</a></td>
<td class="nump">13,015,149<span></span>
</td>
<td class="nump">23,030,602<span></span>
</td>
<td class="nump">29,110,051<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_OtherExpensesIncomeAbstract', window );"><strong>Other (expenses)/income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndDebtExpense', window );">Interest and finance costs</a></td>
<td class="num">(10,385,261)<span></span>
</td>
<td class="num">(9,314,539)<span></span>
</td>
<td class="num">(8,189,475)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax', window );">Loss on derivatives</a></td>
<td class="num">(370,584)<span></span>
</td>
<td class="num">(1,348,384)<span></span>
</td>
<td class="num">(27,470)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income and other income/(expenses)</a></td>
<td class="nump">173,083<span></span>
</td>
<td class="nump">456,924<span></span>
</td>
<td class="nump">361,820<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign exchange (loss)/gain</a></td>
<td class="nump">134,291<span></span>
</td>
<td class="num">(138,777)<span></span>
</td>
<td class="num">(37,733)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingGainsLosses', window );">Other expenses, net</a></td>
<td class="num">(10,448,471)<span></span>
</td>
<td class="num">(10,344,776)<span></span>
</td>
<td class="num">(7,892,858)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 2,566,678<span></span>
</td>
<td class="nump">$ 12,685,826<span></span>
</td>
<td class="nump">$ 21,217,193<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">&#8211; Basic and diluted (in Dollars per share)</a></td>
<td class="nump">$ 0.06<span></span>
</td>
<td class="nump">$ 0.32<span></span>
</td>
<td class="nump">$ 0.75<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_WeightedAverageNumberOfSharesAbstract', window );"><strong>Weighted average number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">&#8211; Basic and diluted (in Shares)</a></td>
<td class="nump">41,315,127<span></span>
</td>
<td class="nump">39,305,644<span></span>
</td>
<td class="nump">28,271,746<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_CharterHireExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the income statement line item "charter hire expenses."</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CharterHireExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_OtherExpensesIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_OtherExpensesIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselsOperatingExpensesExcludingRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Vessels' operating expenses, excluding related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselsOperatingExpensesExcludingRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselsOperatingExpensesRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Vessels operating expenses of related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselsOperatingExpensesRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VoyageExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>All expenses incurred in relation to vessel voyages, including port expenses, bunkers, and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VoyageExpensesRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpensesRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_WeightedAverageNumberOfSharesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_WeightedAverageNumberOfSharesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfPropertyRepairsAndMaintenance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfPropertyRepairsAndMaintenance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDerivativeInstrumentsNetPretax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDebtExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and debt related expenses associated with nonoperating financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDebtExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingGainsLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of gains or losses resulting from nonoperating activities (for example, interest and dividend revenue, property, plant and equipment impairment loss, and so forth).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7,9)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingGainsLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
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<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6816415104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Income (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty', window );">General and administrative expenses, related party</a></td>
<td class="nump">$ 1,150,451<span></span>
</td>
<td class="nump">$ 1,394,025<span></span>
</td>
<td class="nump">$ 1,323,836<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of selling, general and administrative expenses resulting from transactions, excluding transactions that are eliminated in consolidated or combined financial statements, with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754315232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 2,566,678<span></span>
</td>
<td class="nump">$ 12,685,826<span></span>
</td>
<td class="nump">$ 21,217,193<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CashFlowHedgesAbstract', window );"><strong>Cash flow hedges</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax', window );">Effective portion of changes in fair value of interest swap contracts</a></td>
<td class="num">(100,268)<span></span>
</td>
<td class="num">(293,020)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax', window );">Reclassification adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,471<span></span>
</td>
<td class="num">(67,849)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="num">(100,268)<span></span>
</td>
<td class="num">(243,549)<span></span>
</td>
<td class="num">(67,849)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">$ 2,466,410<span></span>
</td>
<td class="nump">$ 12,442,277<span></span>
</td>
<td class="nump">$ 21,149,344<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CashFlowHedgesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e689-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph c<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41638-113959<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6441202&amp;loc=d3e80720-113993<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6821363504">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders&#8217; Equity - USD ($)<br></strong></div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Treasury Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>AOCI Attributable to Parent [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2012</a></td>
<td class="nump">$ 211,796<span></span>
</td>
<td class="num">$ (2,234,173)<span></span>
</td>
<td class="nump">$ 278,020,814<span></span>
</td>
<td class="nump">$ 66,016,627<span></span>
</td>
<td class="nump">$ 18,378<span></span>
</td>
<td class="nump">$ 342,033,442<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance (in Shares) at Dec. 31, 2012</a></td>
<td class="nump">21,179,642<span></span>
</td>
<td class="num">(552,313)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Follow-on public offering net of issuance cost</a></td>
<td class="nump">$ 115,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">109,004,029<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 109,119,029<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Follow-on public offering net of issuance cost (in Shares)</a></td>
<td class="nump">11,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock repurchase (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">292,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 292,628<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,217,193<span></span>
</td>
<td class="num">(67,849)<span></span>
</td>
<td class="nump">21,149,344<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2013</a></td>
<td class="nump">$ 326,796<span></span>
</td>
<td class="num">$ (2,234,173)<span></span>
</td>
<td class="nump">387,317,471<span></span>
</td>
<td class="nump">87,233,820<span></span>
</td>
<td class="num">(49,471)<span></span>
</td>
<td class="nump">472,594,443<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance (in Shares) at Dec. 31, 2013</a></td>
<td class="nump">32,679,642<span></span>
</td>
<td class="num">(552,313)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Follow-on public offering net of issuance cost</a></td>
<td class="nump">$ 113,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112,188,931<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112,302,678<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Follow-on public offering net of issuance cost (in Shares)</a></td>
<td class="nump">11,374,753<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures', window );">Issuance of restricted shares and related stock based compensation</a></td>
<td class="nump">$ 2,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">355,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">357,967<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Issuance of restricted shares and related stock based compensation (in Shares)</a></td>
<td class="nump">230,713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Stock repurchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (5,307,091)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (5,307,091)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock repurchase (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(843,022)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(843,022)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,685,826<span></span>
</td>
<td class="num">(243,549)<span></span>
</td>
<td class="nump">$ 12,442,277<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2014</a></td>
<td class="nump">$ 442,850<span></span>
</td>
<td class="num">$ (7,541,264)<span></span>
</td>
<td class="nump">499,862,062<span></span>
</td>
<td class="nump">99,919,646<span></span>
</td>
<td class="num">(293,020)<span></span>
</td>
<td class="nump">592,390,274<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance (in Shares) at Dec. 31, 2014</a></td>
<td class="nump">44,285,108<span></span>
</td>
<td class="num">(1,395,335)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Stock repurchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (12,945,608)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (12,945,608)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock repurchase (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,372,097)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,372,097)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,140,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,140,084<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,566,678<span></span>
</td>
<td class="num">(100,268)<span></span>
</td>
<td class="nump">2,466,410<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2015</a></td>
<td class="nump">$ 442,850<span></span>
</td>
<td class="num">$ (20,486,872)<span></span>
</td>
<td class="nump">$ 501,002,146<span></span>
</td>
<td class="nump">$ 102,486,324<span></span>
</td>
<td class="num">$ (393,288)<span></span>
</td>
<td class="nump">$ 583,051,160<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance (in Shares) at Dec. 31, 2015</a></td>
<td class="nump">44,285,108<span></span>
</td>
<td class="num">(3,767,432)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568740-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6820959952">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CashFlowsFromOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income for the year</a></td>
<td class="nump">$ 2,566,678<span></span>
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<td class="nump">$ 12,685,826<span></span>
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<td class="nump">$ 21,217,193<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationNonproduction', window );">Depreciation</a></td>
<td class="nump">35,857,507<span></span>
</td>
<td class="nump">33,811,607<span></span>
</td>
<td class="nump">30,761,673<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDeferredCharges', window );">Amortization of deferred finance charges</a></td>
<td class="nump">587,157<span></span>
</td>
<td class="nump">656,341<span></span>
</td>
<td class="nump">425,933<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels', window );">Amortization of deferred gain on sale and leaseback of vessels</a></td>
<td class="num">(195,040)<span></span>
</td>
<td class="num">(4,954)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized', window );">Unrealized exchange differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">251,662<span></span>
</td>
<td class="nump">3,745<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share based compensation</a></td>
<td class="nump">1,140,084<span></span>
</td>
<td class="nump">357,967<span></span>
</td>
<td class="nump">292,628<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Change in fair value of derivatives</a></td>
<td class="num">(1,705,633)<span></span>
</td>
<td class="num">(1,019,853)<span></span>
</td>
<td class="num">(2,784,123)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment loss</a></td>
<td class="nump">8,238,987<span></span>
</td>
<td class="nump">6,168,747<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Gain on sale of vessels</a></td>
<td class="num">(33,251)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_IncreaseDecreaseInAbstract', window );"><strong>(Increase)/decrease in</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Trade and other receivables</a></td>
<td class="num">(1,532,306)<span></span>
</td>
<td class="nump">1,869,466<span></span>
</td>
<td class="num">(2,055,817)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherReceivables', window );">Claims receivable</a></td>
<td class="num">(1,192,422)<span></span>
</td>
<td class="num">(317,570)<span></span>
</td>
<td class="num">(1,905,152)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="num">(39,991)<span></span>
</td>
<td class="num">(497,573)<span></span>
</td>
<td class="nump">691,314<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInCustomerAdvances', window );">Advances and prepayments</a></td>
<td class="nump">136,601<span></span>
</td>
<td class="num">(670,559)<span></span>
</td>
<td class="num">(280,218)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_IncreaseDecreaseInAbstract0', window );"><strong>Increase/(decrease) in</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToRelatedParties', window );">Balances with related parties</a></td>
<td class="nump">4,351,432<span></span>
</td>
<td class="num">(999,147)<span></span>
</td>
<td class="num">(1,452,332)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Trade accounts payable</a></td>
<td class="num">(183,896)<span></span>
</td>
<td class="nump">1,104,798<span></span>
</td>
<td class="nump">1,442,443<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilities', window );">Accrued liabilities</a></td>
<td class="nump">1,699,912<span></span>
</td>
<td class="nump">1,022,650<span></span>
</td>
<td class="nump">25,207<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred income</a></td>
<td class="num">(1,641,223)<span></span>
</td>
<td class="nump">818,327<span></span>
</td>
<td class="nump">2,744,881<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">48,054,596<span></span>
</td>
<td class="nump">55,237,735<span></span>
</td>
<td class="nump">49,127,375<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CashFlowsFromInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities', window );">Insurance proceeds</a></td>
<td class="nump">1,262,695<span></span>
</td>
<td class="nump">384,164<span></span>
</td>
<td class="nump">1,801,120<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Vessels&#8217; acquisitions and advances for vessels under construction</a></td>
<td class="num">(155,072,744)<span></span>
</td>
<td class="num">(129,891,982)<span></span>
</td>
<td class="num">(124,406,294)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from sale of vessels, net</a></td>
<td class="nump">2,010,302<span></span>
</td>
<td class="nump">27,929,931<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ProceedsFromCancellationOfVesselsAcquisitions', window );">Net proceeds related to cancellation of vessels&#8217; acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,044,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DecreaseInRestrictedCash', window );">Decrease in restricted cash account</a></td>
<td class="nump">571,293<span></span>
</td>
<td class="nump">425,225<span></span>
</td>
<td class="nump">2,818,753<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseInRestrictedCash', window );">Increase in restricted cash account</a></td>
<td class="num">(13,777,259)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(165,005,713)<span></span>
</td>
<td class="num">(91,107,863)<span></span>
</td>
<td class="num">(119,786,421)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CashFlowsFromFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfEquity', window );">Stock repurchase</a></td>
<td class="num">(13,429,891)<span></span>
</td>
<td class="num">(4,789,158)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Net proceeds from common stock issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112,302,678<span></span>
</td>
<td class="nump">109,119,029<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Deferred finance charges paid</a></td>
<td class="num">(383,950)<span></span>
</td>
<td class="num">(1,130,675)<span></span>
</td>
<td class="num">(1,747,031)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDepositsFromCustomers', window );">Customer deposits received</a></td>
<td class="nump">2,556,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PaymentsForCustomerDeposits', window );">Customer deposits paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(280,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Loan repayments</a></td>
<td class="num">(55,943,588)<span></span>
</td>
<td class="num">(75,268,462)<span></span>
</td>
<td class="num">(37,696,190)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from long-term debt</a></td>
<td class="nump">155,100,000<span></span>
</td>
<td class="nump">47,903,693<span></span>
</td>
<td class="nump">45,212,500<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
<td class="nump">87,899,271<span></span>
</td>
<td class="nump">79,018,076<span></span>
</td>
<td class="nump">114,608,308<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Effect of exchange rate changes on cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(251,662)<span></span>
</td>
<td class="num">(3,745)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase/(decrease) in cash and cash equivalents</a></td>
<td class="num">(29,051,846)<span></span>
</td>
<td class="nump">42,896,286<span></span>
</td>
<td class="nump">43,945,517<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of year</a></td>
<td class="nump">129,114,803<span></span>
</td>
<td class="nump">86,218,517<span></span>
</td>
<td class="nump">42,273,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of year</a></td>
<td class="nump">100,062,957<span></span>
</td>
<td class="nump">129,114,803<span></span>
</td>
<td class="nump">86,218,517<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Cash Flow Information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash paid during the year for interest, net of amounts capitalized</a></td>
<td class="nump">7,455,713<span></span>
</td>
<td class="nump">6,770,830<span></span>
</td>
<td class="nump">$ 7,374,110<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NonCashFinancingActivityStockRepurchase', window );">Non cash financing activity &#8211; Stock repurchase</a></td>
<td class="nump">33,650<span></span>
</td>
<td class="nump">$ 517,933<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NonCashInvestingActivityVesselsUnderConstruction', window );">Non cash investing activity &#8211; Vessels under construction</a></td>
<td class="nump">$ 153,464<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the income statement line item "amortization of deferred gain on sale and leaseback of vessels."</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_AmortizationOfDeferredGainOnSaleAndLeasebackOfVessels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_CashFlowsFromFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CashFlowsFromFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_CashFlowsFromInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CashFlowsFromInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_CashFlowsFromOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CashFlowsFromOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_IncreaseDecreaseInAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_IncreaseDecreaseInAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_IncreaseDecreaseInAbstract0">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_IncreaseDecreaseInAbstract0</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_NonCashFinancingActivityStockRepurchase">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The stock repurchase in noncash financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_NonCashFinancingActivityStockRepurchase</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_NonCashInvestingActivityVesselsUnderConstruction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents vessels under construction in noncash investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_NonCashInvestingActivityVesselsUnderConstruction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_PaymentsForCustomerDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments from customer deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_PaymentsForCustomerDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ProceedsFromCancellationOfVesselsAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow that represents the net proceeds related to the cancellation of vessels' acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ProceedsFromCancellationOfVesselsAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDeferredCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortization of deferred charges applied against earnings during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDeferredCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DecreaseInRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DecreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationNonproduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationNonproduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossUnrealized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInCustomerAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount of prepayments by customers for goods or services to be provided at a later date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInCustomerAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families; affiliates; or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other amounts due to the reporting entity, which are not otherwise defined in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseInRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received from customers for deposits on goods or services during the period; excludes deposits with other institutions and time deposits, which pertain to financial services entities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the amounts received by the insured under the terms of an insurance contract settlement. This element pertains only to insurance proceeds related to investments, for example fixed assets. It excludes insurance settlements classified as operating cash flows.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromInsuranceSettlementInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613168000">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Basis of Presentation and General Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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      <td style="width: 24.45pt"><b>1.</b></td>
      <td><b>Basis of Presentation and General Information </b></td>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The accompanying consolidated financial statements include the accounts of StealthGas Inc. and its wholly owned subsidiaries (collectively, the &#x201c;Company&#x201d;) which, as of December&nbsp;31, 2015 owned a fleet of forty nine liquefied petroleum gas (LPG) carriers, three medium range (M.R.) type product carriers and one Aframax tanker providing worldwide marine transportation services under long, medium or short-term charters. StealthGas Inc. was formed under the laws of Marshall Islands on December&nbsp;22, 2004.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company&#x2019;s vessels are managed by Stealth Maritime Corporation S.A. (the &#x201c;Manager&#x201d;), a related party. The Manager is a company incorporated in Liberia and registered in Greece on May&nbsp;17, 1999 under the provisions of law 89/1967, 378/1968 and article&nbsp;25 of law 27/75 as amended by article&nbsp;4 of law 2234/94. (See Note&nbsp;3).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">During 2013, 2014 and 2015, the following charterers individually accounted for 10% or more of the Company&#x2019;s revenues as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">

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       <td style="font-size: 10pt">&nbsp;</td>
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       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,</td>
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       <td style="width: 61%; font-size: 10pt">A </td>
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       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
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       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">13</td>
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       <td style="width: 10%; font-size: 10pt; text-align: right">13</td>
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       <td style="font-size: 10pt; text-align: right">11</td>
       <td style="font-size: 10pt; text-align: left">%</td>
       <td style="font-size: 10pt">&nbsp;</td>
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       <td style="font-size: 10pt">&nbsp;</td>
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       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610303792">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
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      <td style="width: 24.45pt"><b>2.</b></td>
      <td><b>Significant Accounting Policies </b></td>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Principles of Consolidation:</i></b>&nbsp;The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#x201c;US GAAP&#x201d;) and include the accounts of StealthGas Inc. and its wholly owned subsidiaries. All inter-company balances and transactions have been eliminated upon consolidation.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Use of Estimates:</i></b>&nbsp;The preparation of consolidated financial statements in conformity with US&nbsp;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Other Comprehensive Income/(Loss):</i></b>&nbsp;The Company follows the provisions of guidance regarding reporting comprehensive income which requires separate presentation of certain transactions, such as unrealized gains and losses from effective portion of cash flow hedges, which are recorded directly as components of stockholders&#x2019; equity.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Foreign Currency Translation:</i></b>&nbsp;The functional currency of the Company is the U.S.&nbsp;Dollar because the Company&#x2019;s vessels operate in international shipping markets, which utilize the U.S.&nbsp;Dollar as the functional currency. The accounting books of the Company are maintained in U.S.&nbsp;Dollars. Transactions involving other currencies during the year are converted into U.S.&nbsp;Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated to reflect the period end exchange rates. Resulting gains or losses are separately reflected in the accompanying consolidated statements of income.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Cash and Cash Equivalents:</i></b>&nbsp;The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash equivalents.</p><br/><p style="font-size: 10pt; margin: 0pt 0"><b><i>Restricted Cash:</i></b>&nbsp;Restricted cash mainly reflects deposits with certain banks that can only be used to pay the current loan installments or which are required to be maintained as a certain minimum cash balance per mortgaged vessel or cash held in restricted bank account for guarantees issued by the bank on the Company&#x2019;s behalf. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Trade Receivables:</i></b>&nbsp;The amount shown as trade receivables includes estimated recoveries from charterers for hire, freight and demurrage billings, net of allowance for doubtful accounts. At each balance sheet date, all potentially un-collectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision for doubtful accounts was required for any of the periods presented.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Claims Receivable:</i></b>&nbsp;Claims receivable are recorded on the accrual basis and represent the claimable expenses, net of deductibles, incurred through each balance sheet date, for which recovery from insurance companies is probable and claim is not subject to litigation. Any remaining costs to complete the claims are included in accrued liabilities.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Inventories:</i></b>&nbsp;Inventories consist of bunkers (for vessels under voyage charter) and lubricants. The cost is determined by the first-in, first-out method. The Company considers victualling and stores as being consumed when purchased and, therefore, such costs are expensed when incurred.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Advances for vessels under construction:</i></b> This represents amounts expended by the Company in accordance with the terms of the construction contracts for vessels as well as other expenses in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are capitalized.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Vessels Acquisitions:</i></b>&nbsp;Vessels are stated at cost, which consists of the contract price less discounts and any material expenses incurred upon acquisition (initial repairs, improvements, acquisition and expenditures made to prepare the vessel for its initial voyage). Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels, or otherwise are charged to expenses as incurred. The Company records all identified tangible and intangible assets associated with the acquisition of a vessel or liabilities at fair value. Where vessels are acquired with existing time charters, the Company allocates the purchase price to the time charters based on the present value (using an interest rate which reflects the risks associated with the acquired charters) of the difference between (i)&nbsp;the contractual amounts to be paid pursuant to the charter terms and (ii)&nbsp;management&#x2019;s estimate of the fair market charter rate, measured over a period equal to the remaining term of the charter. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to revenues over the remaining term of the charter.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Impairment or Disposal of Long-lived Assets:</i></b>&nbsp;The Company follows the Accounting Standards Codification (&#x201c;ASC&#x201d;) Subtopic 360-10, &#x201c;Property, Plant and Equipment&#x201d; (&#x201c;ASC 360-10&#x201d;), which requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts. If indicators of impairment are present, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets.&nbsp;If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value and the difference is recorded as an impairment loss in the consolidated statements of income.&nbsp;Various factors including anticipated future charter rates, estimated scrap values, future dry-docking costs and estimated vessel operating costs are included in this analysis. These factors are based on historical trends as well as future expectations. Undiscounted cashflows are determined by considering the revenues from existing charters for those vessels that have long term employment and when there is no charter in place the estimates based on historical average rates with an annual increase of 1%. The Company also assumes an average annual inflation rate of 1.50% for operating expenses. No impairment loss was identified or recorded for the year ended December 31, 2013. An impairment loss was identified and recorded for the years ended December 31, 2014 and 2015 (Note 6).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Vessels&#x2019; Depreciation:</i></b>&nbsp;The cost of each of the Company&#x2019;s vessels is depreciated on a straight-line basis over the vessel&#x2019;s remaining economic useful life, after considering the estimated residual value. Management estimates the useful life of each of the Company&#x2019;s LPG carriers to be 30 years and product and aframax tankers, to be 25&nbsp;years, from the date of their construction.</p><br/><p style="font-size: 10pt; margin: 0pt 0; text-indent: 30pt"><b><i>Assets Held for Sale:&nbsp;</i></b>It is the Company&#x2019;s policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies vessels as being held for sale when the following criteria are met: (i)&nbsp;management possessing the necessary authority has committed to a plan to sell the vessels, (ii)&nbsp;the vessels are available for immediate sale in their present condition, (iii)&nbsp;an active program to find a buyer and other actions required to complete the plan to sell the vessels have been initiated, (iv)&nbsp;the sale of the vessels is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year and (v)&nbsp;the vessels are being actively marketed for sale at a price that is reasonable in relation to their current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. Furthermore, in the period a vessel meets the held for sale criteria in accordance with ASC 360-10, a loss is recognized for any reduction of the vessel&#x2019;s carrying amount to its fair value less cost to sell. No assets were held for sale as of December&nbsp;31, 2014. Concerning assets held for sale as of December 31, 2015, refer to Note 6.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Segment Reporting:</i></b>&nbsp;The Company reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Accounting for Special Survey and Dry-docking Costs:</i></b>&nbsp;Special survey and dry-docking costs and all non-capitalizable repair and maintenance expenses are expensed in the period incurred.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Deferred Finance Charges:</i></b>&nbsp;Fees incurred for obtaining new loans or refinancing existing ones are deferred and amortized to interest expense over the life of the related debt using the effective interest method. The unamortized deferred financing charges are presented as a direct deduction from the carrying amount of the related loan and credit facility in the consolidated balance sheet. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing is made. Deferred financing costs relating to undrawn facilities are presented under non-current assets in the consolidated balance sheet.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Accounting for Revenue and Related Expenses:</i></b>&nbsp;The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using either voyage charters, where a contract is made in the spot market for the use of a vessel for a specific voyage for a specified charter rate, or time and bareboat charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily or monthly charter hire rate payable monthly in advance. If a charter agreement exists and the price is fixed, service is provided and collection of the related revenue is reasonably assured, revenue is recognized as it is earned ratably on a straight-line basis over the duration of the period of each voyage or period charter. A voyage is deemed to commence upon the completion of discharge of the vessel&#x2019;s previous cargo and is deemed to end upon the completion of discharge of the current cargo, but the Company does not begin recognizing revenue until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port for its next voyage. Demurrage income represents payments by a charterer to a vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized ratably as earned during the related voyage charter&#x2019;s duration period. Deferred income includes cash received prior to the balance sheet date and is related to revenue earned after such date.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Voyage expenses comprise commissions, bunkers and port expenses and are unique to a particular charter. Commissions in all cases are paid by the Company and are recognized on a pro-rata basis. All other voyage expenses are paid by the charterer under time charter arrangements or by the Company under voyage charter arrangements and are recognized as incurred.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;Vessel operating expenses comprise all expenses relating to the operation of the vessel, including crewing, repairs and maintenance, insurance, stores, lubricants and miscellaneous expenses. Vessel operating expenses are paid by the Company and are accounted for on an accrual basis.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating expenses, dry-docking expenses and risk of operation.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Leasing:</i></b>&nbsp;Leases are classified as capital leases if they meet at least one of the following criteria: (i) the leased asset automatically transfers title at the end of the lease term; (ii) the lease contains a bargain purchase option; (iii) the lease term equals or exceeds 75% of the remaining estimated economic life of the leased asset; (iv) or the present value of the minimum lease payments equals or exceeds 90% of the excess of fair value of the leased property. If none of the above criteria is met, the lease is accounted for as an operating lease. Operating lease payments are recognized as an operating expense in the consolidated statement of income on a straight-line basis over the lease term. For sale and lease back transactions, when the lease qualifies as an operating lease and the lease back is considered &#x201c;more than minor but less than substantially all&#x201d; i.e. the seller-lessee retains more than a minor part but less than substantially all of the use of the asset, the resulting gains are deferred and amortized to income over the lease period.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Equity Compensation Plan:</i></b>&nbsp;Share-based compensation includes vested and non-vested shares granted to employees and to non-employee directors, for their services as directors and is included in General and administrative expenses in the consolidated statements of income. These shares are measured at their fair value, which is equal to the market value of the Company&#x2019;s common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and a total fair value of such shares is recognized in full on the grant date. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized over the vesting period on a straight-line basis over the requisite service period for each separate portion of the award as if the award was, in substance, multiple awards (graded vesting attribution method). In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until non-employees complete the service (Note&nbsp;14).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Earnings per Share:</i></b>&nbsp;Basic earnings per share are computed under the two-class method by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised.</p><br/><p style="font-size: 10pt; margin: 0pt 0">Dilution is computed by either the treasury stock method or the two&#x2013;class method, whichever results in the more dilutive effect. Under the treasury stock method, all of the Company&#x2019;s dilutive securities are assumed to be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company&#x2019;s common stock during the relevant periods. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings per share computation to the extent these are not anti-dilutive (Note&nbsp;15).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Derivatives</i></b>:&nbsp;The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed interest rate for a certain period in exchange. The Company designates its derivatives based upon guidance on ASC 815, &#x201c;Derivatives and Hedging&#x201d; which establishes accounting and reporting requirements for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. The guidance on accounting for certain derivative instruments and certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are met.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">(i) <b>Hedge Accounting</b>: At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument&#x2019;s effectiveness in offsetting exposure to changes in the hedged item&#x2019;s cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of &#x201c;Accumulated other comprehensive income/loss&#x201d; in equity, while any ineffective portion, if any, is recognized immediately in current period earnings.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the statement of income. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as a component of &#x201c;Loss on derivatives&#x201d;.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">(ii) <b>Other Derivatives</b>: Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in current period earnings.</p><br/><p style="font-size: 10pt; text-indent: 24.45pt; margin: 0pt 0"><b><i>Recent Accounting Pronouncements</i></b>:&nbsp;On May&nbsp;28, 2014, the Financial Accounting Standards Board (&#x201c;FASB&#x201d;) issued Accounting Standard Update (&#x201c;ASU&#x201d;) No 2014-09 as amended by ASU 2015-14 which was issued on August&nbsp;12, 2015, Revenue From Contracts With Customers, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities with reporting periods beginning after December&nbsp;15, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December&nbsp;15, 2016. The Company is currently evaluating the impact, if any, of the adoption of this new standard.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In April 2015, the FASB issued ASU No 2015-03, "Simplifying the Presentation of Debt Issuance Costs", which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. ASU 2015-03 was early adopted by the Company during the fourth quarter of 2015 with retrospective application.&nbsp;The reclassification does not impact net income as previously reported or any prior amounts reported on the consolidated statements of comprehensive income, or the consolidated statements of cash flows. The effect of the retrospective application of this change in accounting principle on the Company&#x2019;s consolidated balance sheets as of December&nbsp;31, 2014 resulted in a reduction of Deferred finance charges in the amount of $1,521,543 with a corresponding decrease of $1,032,992 in Long-term debt and Total non current liabilities and a decrease of $488,551 in Current portion of long-term debt and Total current liabilities.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory to simplify the measurement of inventory using first-in, first out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In February 2016, the FASB issued ASU 2016-02<font style="color: #313131">, Leases (Topic 842)</font>. The standard amends the existing accounting standards for lease accounting and adds additional disclosures about leasing arrangements. The ASU requires lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by most leases, while lessor accounting remains largely unchanged. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018. Early adoption is permitted for all entities. The Company has not yet evaluated the impact, if any, of the adoption of this new standard.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In March 2016, the FASB issued amendments concerning the effect of derivative contract novations on existing hedge accounting relationships. As it relates to derivative instruments, novation refers to replacing one of the parties to a derivative instrument with a new party, which may occur for a variety of reasons such as: financial institution mergers, intercompany transactions, an entity exiting a particular derivatives business or relationship, or because of laws or regulatory requirements. The amendments clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under the guidance for Derivatives and Hedging (Topic 815) does not, in and of itself, require dedesignation of that hedge accounting relationship provided that all other hedge accounting criteria continue to be met. The amendments are effective for public entities for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The amendments may be applied on either a prospective basis or a modified retrospective basis and early application is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The adoption of this guidance is not expected to have a material impact on the Company's financial statements.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6816495632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Transactions with Related Parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Related Party Transactions Disclosure [Text Block]</a></td>
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     <tr style="vertical-align: top">
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      <td style="width: 24.45pt"><b>3.</b></td>
      <td><b>Transactions with Related Parties </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Manager provides the vessels with a wide range of shipping services such as chartering, technical support and maintenance, insurance, consulting, financial and accounting services, for a fixed daily fee of $440 per vessel operating under a voyage or time charter or $125 per vessel operating under a bareboat charter and a brokerage commission of 1.25% on freight, hire and demurrage per vessel, as per the management agreement between the Manager and the Company. The Manager has subcontracted the technical management of some of the vessels to an affiliated ship-management company, Brave Maritime Corp. Inc. (&#x201c;Brave&#x201d;). This company provides technical management to the Company&#x2019;s vessels for a fixed annual fee per vessel which is paid by the Manager. For the years ended December&nbsp;31, 2013, 2014 and 2015, total brokerage commissions of 1.25% amounted to $1,482,764, $1,613,421 and $1,725,683, respectively, and are included in &#x201c;Voyage expenses &#x2013; related party&#x201d; in the consolidated statements of income. For the years ended December&nbsp;31, 2013, 2014 and 2015, the management fees were $4,807,010, $5,501,675 and $6,452,145, respectively and are included in &#x201c;Management fees &#x2013; related party&#x201d; in the consolidated statements of income. In addition, the Manager arranges for supervision onboard the vessels, when required, by superintendent engineers and when such visits exceed a period of five days in a twelve month period, an amount of $500 is charged for each additional day. For the years ended December&nbsp;31, 2013, 2014 and 2015, the superintendent fees amounted to $151,000, $167,000 and $245,000, respectively, and are included in &#x201c;Vessels&#x2019; operating expenses &#x2013; related party&#x201d; in the consolidated statements of income.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Manager also acts as a sales and purchase broker for the Company in exchange for a commission fee equal to 1% of the gross sale or purchase price of vessels or companies. For the years ended December&nbsp;31, 2013, 2014 and 2015 commission fees relating to vessels purchased of $723,500, $984,355 and $1,925,563, respectively, were incurred and capitalized to the cost of the vessels. For the year ended December&nbsp;31, 2014 an amount of $285,000 was recognized as commission expenses relating to the sale and leaseback of vessels and is included in the consolidated balance sheets under the caption &#x201c;Deferred gain on sale and leaseback of vessels&#x201d;. For the year ended December&nbsp;31, 2015 an amount of $21,177 was recognized as commission expenses relating to the sale of vessels and is included in the consolidated statements of income under the caption &#x201c;Net gain on sale of vessels&#x201d;</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In addition to management services, the Company reimburses the Manager for compensation of its Chief Executive Officer, its Chief Financial Officer, its Internal Auditor, its Chief Technical Officer, its Finance Manager and its Deputy Chairman and Executive Director, which reimbursements were in the amounts of $1,245,766, $1,317,237 and $1,077,698, for the years ended December 31, 2013, 2014 and 2015, respectively, and are included in the consolidated statements of income under the caption &#x201c;General and administrative expenses&#x201d;.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The current account balance with the Manager at December&nbsp;31, 2014 and at December&nbsp;31, 2015 was a liability of $4,941,896 and $9,188,852, respectively. The liability represents payments made by the Manager on behalf of the ship-owning companies.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company rents office space that is owned by an affiliated company of the Manager. Rental expense for the years ended December&nbsp;31, 2013, 2014 and 2015 amounted to $78,070, $76,788 and $72,753, respectively, and is included in the consolidated statements of income under the caption &#x201c;General and administrative expenses&#x201d;.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In April 2012, the Company entered into time charter agreements for two of the Company&#x2019;s vessels with Emihar Petroleum Inc., a company affiliated with members of the Vafias family incorporated in the Marshall Islands. Revenue from the related party amounted to $9,814,000 for each of the years ended December&nbsp;31, 2013, 2014 and 2015, respectively, and is included in the consolidated statements of income under the caption &#x201c;Revenues &#x2013; related party&#x201d;. In accordance with the time charter agreements for the vessels&#x2019; operating expenses, the Company paid to the Manager amounts of $3,933,149, $3,932,352 and $3,932,042 for the years ended December&nbsp;31, 2013, 2014 and 2015, respectively, which are included in the consolidated statements of income under the caption &#x201c;Vessels&#x2019; operating expenses &#x2013; related party&#x201d;. The receivable balance with Emihar as of December&nbsp;31, 2014 and 2015, was a receivable of $332,970 and $228,494, respectively.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On August 22, 2012, the Company entered into separate memoranda of agreements with a company affiliated with members of the Vafias family to acquire four LPG carriers under construction which were scheduled to be delivered during the year 2015. The aggregate purchase price of these vessels was $96,000,000. As provided by the memoranda of agreements, an advance payment of 20% of the aggregate purchase price was paid on September 28, 2012. On July 11, 2014, the acquisition of two of the above LPG carriers was cancelled and on September 30, 2014 the Company collected the full amount of the advances paid to the affiliated company with the capitalized interest, totaling to $10,044,799 (Note 5). The remaining two vessels, &#x201c;Eco Dream&#x201d; and &#x201c;Eco Green&#x201d;, were delivered to the Company on August 18, 2015 and on September 25, 2015, respectively (Note 6).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On May 26, 2014, the Company entered into an agreement with Brave for the supervision of the construction of eight of its vessels for a fixed fee of Euro 390,000 per vessel. For the years ended December 31, 2014 and 2015, the supervision fees amounted to $984,204 and $1,726,265, respectively, and were capitalized to the cost of the respective vessels.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph b<br> -Article 3A<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6608262592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Inventories<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventory Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">Inventory Disclosure [Text Block]</a></td>
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      <td style="width: 0"></td>
      <td style="width: 24.45pt"><b>4.</b></td>
      <td><b>Inventories </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
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      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 64%; font-size: 10pt">Bunkers </td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">1,426,838</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">1,116,604</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; padding-bottom: 1.1pt">Lubricants </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,531,828</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,799,650</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
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      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,958,666</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,916,254</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 6<br> -Subparagraph a, b, c<br> -Article 5<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6614585136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract', window );"><strong>Advances For Vessels Under Construction And Acquisitions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTextBlock', window );">Advances For Vessels Under Construction And Acquisitions [Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">

     <tr style="vertical-align: top">
      <td style="width: 0"></td>
      <td style="width: 24.45pt"><b>5.</b></td>
      <td><b>Advances for Vessels Under Construction and Acquisitions </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amount shown in the accompanying consolidated balance sheet as of December&nbsp;31, 2014 of $88,965,085 mainly represents advance payments to sellers for two LPG carriers under construction contracted in 2012 (see Note 3), advance payments to sellers for three LPG carriers under construction contracted in 2013, advance payments to ship-builders for four LPG carriers under construction contracted in 2013, advance payments to ship-builders for six LPG carriers under construction contracted in 2014 and advance payments to sellers for one LPG carrier under construction contracted in 2014.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amount shown in the accompanying consolidated balance sheet as of December&nbsp;31, 2015 of $44,031,882 mainly represents advance payments to ship-builders for six LPG carriers under construction contracted in 2014.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">For the years ended December&nbsp;31, 2014 and 2015, the movement of the account, advances for vessels under construction and acquisitions was as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%">

      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 82%; font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2013 </td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; font-weight: bold; text-align: right">70,577,435</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Advances for vessels under construction and acquisitions </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">124,973,343</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Capitalized interest </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,113,297</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Capitalized expenses </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,805,342</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Vessels delivered </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(101,459,533</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Vessels cancelled (Note 3) </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(10,044,799</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2014 </td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">88,965,085</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Advances for vessels under construction and acquisitions </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">148,318,231</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Capitalized interest </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,822,443</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Capitalized expenses </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,085,534</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Vessels delivered </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(200,159,411</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance, December&nbsp;31, 2015 </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">44,031,882</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610551936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Vessels, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Property, Plant and Equipment Disclosure [Text Block]</a></td>
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     <tr style="vertical-align: top">
      <td style="width: 0"></td>
      <td style="width: 24.45pt"><b>6.</b></td>
      <td><b>Vessels, net </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; margin: 0pt 0">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 95%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Vessel cost</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Accumulated<br /> Depreciation</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Net Book<br /> Value</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 52%; font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2013 </td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">849,452,594</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">(172,429,692</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">677,022,902</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">101,459,533</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">101,459,533</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Disposals </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(39,075,007</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">11,925,771</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(27,149,236</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Impairment loss </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(16,449,131</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">10,280,384</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(6,168,747</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Depreciation for the year </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(33,811,607</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(33,811,607</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2014 </td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">895,387,989</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">(184,035,144</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">711,352,845</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">200,159,411</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">200,159,411</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Disposals </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,977,051</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,977,051</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Impairment loss </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(26,190,677</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">17,951,690</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(8,238,987</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Vessel held for sale </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(748,823</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(748,823</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Depreciation for the year </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(35,857,507</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(35,857,507</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance, December&nbsp;31, 2015 </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,066,630,849</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(201,940,961</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">864,689,888</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The additions in 2014 relate to the acquisition of vessels &#x201c;Eco Stream&#x201d;, &#x201c;Eco Chios&#x201d;, &#x201c;Eco Elysium&#x201d;, &#x201c;Eco Invictus&#x201d; and &#x201c;Eco Corsair&#x201d;. In addition, on November 14, 2014 and on December 15, 2014, the Company entered into separate memoranda of agreement for the disposal of the vessels &#x201c;Gas Premiership&#x201d; and &#x201c;Gas Cathar&#x201d;, respectively, to an unaffiliated third party for $28,500,000 and entered simultaneously into bareboat charter agreements to leaseback the vessels for periods of four years (Note 19). The vessels were delivered to the new owners on November 19, 2014 and on December 19, 2014, respectively.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">At December 31, 2014, the Company decided to seek to dispose of two of the oldest vessels of the fleet. As a result of this decision, the undiscounted net operating cash flows of each of these vessels did not exceed each vessel&#x2019;s carrying value and the Company identified and recorded an impairment loss of $6,168,747 which is presented under the caption &#x201c;Impairment loss&#x201d; in the consolidated statements of income. On March 12, 2015, the Company concluded two separate memoranda of agreement for the disposal of the vessels described above, &#x201c;Gas Kaizen&#x201d; and &#x201c;Gas Crystal&#x201d;, to an unaffiliated third party for $2,054,156. The vessels were delivered to the new owners on April 1, 2015 and April 16, 2015, respectively. No assets were held for sale as of December&nbsp;31, 2014.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The additions in 2015 relate to the acquisition of vessels &#x201c;Eco Lucidity&#x201d;, &#x201c;Eco Enigma&#x201d;, &#x201c;Eco Royalty&#x201d;, &#x201c;Eco Loyalty&#x201d;, &#x201c;Eco Universe&#x201d;, &#x201c;Eco Galaxy&#x201d;, &#x201c;Eco Czar&#x201d;, &#x201c;Eco Dream&#x201d;, &#x201c;Eco Nemesis&#x201d; and &#x201c;Eco Green&#x201d;.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">At June 30, 2015 and December 31, 2015, the Company decided to seek to dispose of two of the oldest vessels of the fleet. As a result of this decision, the undiscounted net operating cash flows of each of these vessels did not exceed each vessel&#x2019;s carrying value and the Company identified and recorded an impairment loss of $6,775,416 which is presented under the caption &#x201c;Impairment loss&#x201d; in the consolidated statements of income. The accumulated depreciation of these vessels was written off and the vessels were recorded at their scrap value.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On November 20, 2015, the Company entered into a memorandum of agreement for the disposal of one of the above mentioned vessels, the &#x201c;Gas Arctic&#x201d;, to an unaffiliated third party for $950,000. The vessel, including her inventories on board, was classified as vessel held for sale in the fourth quarter of 2015 and was delivered to her new owners on January 21, 2016.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">At December 31, 2015, the Company performed an impairment review of its remaining vessels, due to the prevailing conditions in the shipping industry. As a result of the impairment review, undiscounted net operating cash flows exceeded each vessel&#x2019;s carrying value with the exception of one vessel and therefore the Company identified and recorded an impairment loss of $1,463,571 which is presented under the caption &#x201c;Impairment loss&#x201d; in the consolidated statements of income.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13-14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6751568752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Deferred Finance Charges<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.45pt; margin: 0pt 0">Deferred finance charges amounting to $1,569,375 and $390,000 as of December&nbsp;31, 2014 and December&nbsp;31, 2015, respectively, represent fees paid to the lenders for undrawn facilities, and are presented on the balance sheet under non-current assets. Gross deferred finance charges amounting to $5,959,350 and $6,343,300 as of December&nbsp;31, 2014 and December&nbsp;31, 2015, respectively, represent fees paid to the lenders for obtaining the related loans, and are presented on the balance sheet as a direct deduction from the carrying amount of the related loan and credit facility net of accumulated amortization. For the years ended December&nbsp;31, 2013, 2014 and 2015, the amortization of deferred financing charges amounted to $425,933, $656,341 and $587,157, respectively, and is included in interest and finance costs in the consolidated statements of income.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613168000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Accrued Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%">

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       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
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       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
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       <td style="width: 64%; font-size: 10pt; text-align: left">Interest on long-term debt </td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">1,436,466</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">2,536,034</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Administrative expenses </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">339,778</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">291,932</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Vessel operating and voyage expenses </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">2,126,783</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">2,774,973</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">3,903,027</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">5,602,939</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6612293936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Deferred Income<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
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      <td style="width: 24.45pt"><b>9.</b></td>
      <td><b>Deferred Income </b></td>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amounts shown in the accompanying consolidated balance sheets amounting to $7,064,756 and $5,423,533 represent time and bareboat charter revenues received in advance as of December&nbsp;31, 2014 and as of December&nbsp;31, 2015, respectively.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.3(b).Q1(c),(b).Q2,(c).Q3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613168000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Customer Deposits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CustomerDepositsAbstract', window );"><strong>Customer Deposits [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">These amounts represent deposits received from charterers as guarantees and are comprised as follows:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">

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      <td style="text-align: justify">On February 24, 2015 an amount of $1,820,700 was received from the bareboat charterer of Aframax tanker &#x201c;Spike&#x201d; which is equal to five-months hire. This amount will be returned to the charterer at the end of the thirty two months bareboat charter.</td>
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   </table><br/><p style="font-size: 10pt; text-align: justify; text-indent: -19.8pt; margin: 0pt 0 0pt 37.8pt">(b) On October 12, 2015 an amount of $736,000 was received from the bareboat charterer of Product carrier &#x201c;Navig8 Faith&#x201d; which is equal to three-months hire. This amount will be returned to the charterer at the end of the three-year bareboat charter.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610551936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Long-term Debt<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">Original</font></td>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">December 31,</font></td>
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       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">December 31,</font></td>
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       <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Maturity Date</font></td>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">2014</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Additions</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Repayments</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">2015</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 14%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 5, 2005</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 14%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 9, 2016</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 12%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">100,067,500</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">13,816,882</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(5,029,852</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">8,787,030</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">May 17, 2006</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">May 30, 2016</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">79,850,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">14,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(14,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 6, 2006</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 28, 2016</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">6,580,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,763,440</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(473,760</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,289,680</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 21, 2007</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 21, 2017</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">49,875,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,365,764</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(4,869,014</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">17,496,750</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">February 12, 2008</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">February 19, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">40,250,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,875,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(2,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,375,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">July 30, 2008</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">November 4, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">33,240,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,606,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(1,939,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,667,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">October 9, 2008</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">October 9, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">29,437,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">8,650,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(780,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">7,870,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">January 30, 2009</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">July 15, 2016</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">45,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">30,550,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">27,150,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 14, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 14, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">20,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,300,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(2,200,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">17,100,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">February 1, 2011</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 1, 2018</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">49,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">37,850,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,300,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">34,550,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">March 1, 2011</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 20, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">43,250,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">35,375,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">32,375,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 23, 2013</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 30, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">45,212,500</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">38,896,767</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(5,052,587</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">33,844,180</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">March 24, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 30, 2021</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">50,225,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">33,040,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">15,925,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(2,520,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">46,445,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 16, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 16, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">30,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,915,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">15,750,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">25,665,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 12, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">October 2, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">13,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">13,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(880,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,120,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 20, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">January 8, 2023</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">20,925,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">20,925,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(1,065,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,860,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 20, 2013</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">November 16, 2022</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">67,200,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">32,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">31,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 24, 2015</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 14, 2022</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">July 4, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 3, 2021</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,750,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,750,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(406,250</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,343,750</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center; padding-bottom: 1.1pt"><font style="font-size: 10pt">July 29, 2014</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center; padding-bottom: 1.1pt"><font style="font-size: 10pt">July 7, 2023</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">25,350,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">25,350,000</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(528,125</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">24,821,875</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">Total</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">325,503,853</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">155,100,000</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">(55,943,588</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">424,660,265</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Current portion of long-term debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">42,614,213</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">75,546,625</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Long term debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">282,889,640</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">349,113,640</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">Total debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">325,503,853</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">424,660,265</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Current portion of deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">488,551</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">618,174</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Deferred finance charges non-current</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,032,992</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,879,537</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Total deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">1,521,543</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">2,497,711</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Total debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">325,503,853</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">424,660,265</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="5" style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Less: Total deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,521,543</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2,497,711</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">Total&nbsp;&nbsp;debt, net of deferred finance charges</font></td>
       <td style="text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">323,982,310</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">422,162,554</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Less: Current portion of long-term debt, net of current portion of deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">42,125,662</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">74,928,451</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Long term debt, net of deferred finance charges</font></td>
       <td style="text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">281,856,648</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">347,234,103</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>

    </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On December 20, 2013 the Company entered into a term loan with a bank institution to partially finance the acquisition of four LPG carriers under construction, in an amount equal to (i) the lesser of $67,200,000 or 70% of the fair market value of the vessels subject to the Minimum Employment Condition being met at the delivery date of each vessel or (ii) the lesser of $62,400,000 or 65% of the fair market value of the vessels if the Minimum Employment Condition will not be met at the delivery date of each vessel. The term loan will be drawn down in four tranches upon the delivery of each vessel. The first and second tranche amounting to $16,000,000 each were drawn down on September&nbsp;14, 2015 and September&nbsp;30, 2015, respectively. As of December 31, 2015, the remaining tranches had not been drawn down.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On March 24, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of three LPG carriers under construction, named &#x201c;Eco Stream&#x201d;, &#x201c;Eco Chios&#x201d; and &#x201c;Eco Galaxy&#x201d;, respectively, by three of the Company&#x2019;s wholly owned subsidiaries. The term loan was drawn down in three tranches upon the delivery of each vessel. The first and second tranche amounting to $17,150,000 each were drawn down on March&nbsp;31, 2014 and on June&nbsp;30, 2014, respectively, and the third tranche amounting to $15,925,000 was drawn down on July&nbsp;31, 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On April 14, 2014, the Company entered into a facility agreement with a bank to refinance the existing term loan dated February 18, 2009. The term loan is up to $20,400,000 and was drawn down in one tranche at the signing date of the facility agreement.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On April 16, 2014, the Company entered into a facility agreement with a bank to partially finance the acquisition of one LPG carrier on its delivery and to refinance the existing term loan dated June 25, 2009. The term loan was up to $30,000,000 and was drawn down in three tranches. The two tranches amounting to $14,250,000 were drawn down on April 25, 2014 and the third tranche amounting to $15,750,000 was drawn down on April 21, 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On June 12, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of one LPG carrier under construction, named &#x201c;Eco Invictus&#x201d;, by one of the Company&#x2019;s wholly owned subsidiary. The term loan, amounting to $13,000,000, was drawn down on October 1, 2014 in one tranche.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On June 20, 2014 the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction, named &#x201c;Eco Corsair&#x201d; and &#x201c;Eco Elysium&#x201d;, respectively, by two of the Company&#x2019;s wholly owned subsidiaries. The term loan amounting to $20,925,000 was drawn down on January 8, 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On July 4, 2014, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction on their delivery. The term loan is up to $22,750,000 and was drawn down in two tranches upon the delivery of each vessel. The first and second tranche amounting to $11,375,000 each were drawn down on August&nbsp;4, 2015 and on September&nbsp;3, 2015, respectively.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On July 29, 2014, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction on their delivery. The term loan amounting to $25,350,000 was drawn down in one tranche on July 7, 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On March 27, 2015, the Company voluntary repaid the outstanding balance of the term loan dated May 17, 2006, amounting to $13,500,000.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On December 24, 2015, the Company entered into a term loan with a bank to partially finance the acquisition of two LPG carriers under construction on their delivery. The term loan amounting to $22,400,000 was drawn down in one tranche on December 30, 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The above loans are generally repayable in quarterly or semi-annual installments and a balloon payment at maturity and are secured by first priority mortgages over the vessels involved, plus the assignment of the vessels&#x2019; insurances, earnings and operating and retention accounts with the lenders, and the guarantee of ship-owning companies, as owners of the vessels. The term loans contain financial covenants requiring the Company to ensure that:</p><br/><table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">

     <tr>
      <td style="text-align: center; width: 6%; vertical-align: top">&#x2022;</td>
      <td style="vertical-align: middle; text-align: justify; width: 94%">the aggregate market value of the mortgaged vessels at all times exceeds a certain percentage of the amounts outstanding as defined in the term loans, ranging from 125% to 130%,</td>
     </tr>
     <tr>
      <td style="text-align: center; vertical-align: top">&#x2022;</td>
      <td style="vertical-align: middle; text-align: justify">the leverage of the Company defined as Total Debt net of Cash should not exceed 80% of total market value adjusted assets,</td>
     </tr>
     <tr>
      <td style="text-align: center; vertical-align: top"> &#x2022;</td>
      <td style="vertical-align: middle; text-align: justify">the Interest Coverage Ratio of the Company defined as EBITDA to interest expense to be at all times greater than to 2.5:1,</td>
     </tr>
     <tr>
      <td style="text-align: center; vertical-align: top">&nbsp;&#x2022;</td>
      <td style="vertical-align: middle; text-align: justify">at least a certain percentage of the Company is to always be owned by members of the Vafias family,</td>
     </tr>
     <tr>
      <td style="text-align: center; vertical-align: top">&nbsp;&#x2022;</td>
      <td style="vertical-align: middle; text-align: justify">the Company should maintain on a monthly basis a cash balance of a proportionate amount of the next installment and relevant interest plus a minimum aggregate cash balance of $5,146,877 in the earnings account with the relevant banks,</td>
     </tr>
     <tr>
      <td style="text-align: center; vertical-align: top">&nbsp;&#x2022;</td>
      <td style="vertical-align: middle; text-align: justify">dividends paid by the borrower will not exceed 50% of the Company&#x2019;s free cash flow in any rolling 12&nbsp;month period.</td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The interest rates on the outstanding loans as of December&nbsp;31, 2015 are based on Libor plus a margin which varies from 0.70% to 3.00%. The average interest rates (including the margin) on the above outstanding loans for the applicable periods were:</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">Year ended December&nbsp;31, 2013: 2.23%</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">Year ended December&nbsp;31, 2014: 2.28%</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">Year ended December&nbsp;31, 2015: 2.67%</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Bank loan interest expense for the above loans for the years ended December&nbsp;31, 2013, 2014 and 2015 amounted to $7,997,247, $8,746,786 and $10,175,944, respectively. Of these amounts, for the years ended December&nbsp;31, 2013, 2014 and 2015, the amounts of $819,296, $2,113,297 and $1,822,443, respectively, were capitalized as part of advances paid for vessels under construction. Interest expense, net of interest capitalized, is included in interest and finance costs in the consolidated statements of income.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">At December&nbsp;31, 2015, the Company was in compliance with all of its debt financial covenants.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The aggregate available unused amounts under these facilities at December 31, 2015 were $33,600,000 and the Company is required to pay a quarterly commitment fee of 0.80% per annum of the unutilized portion of the line of credit.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The annual principal payments to be made, for the abovementioned loans, after December&nbsp;31, 2015 are as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 90%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left">December&nbsp;31,</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Amount</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 83%; font-size: 10pt; text-align: left">2016 </td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">75,546,625</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">2017 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">49,251,665</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">2018 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">58,462,415</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">2019 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">29,887,415</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">2020 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">105,420,661</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; padding-bottom: 1.1pt; text-align: left">Thereafter </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">106,091,485</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">424,660,265</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752479232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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     <tr style="vertical-align: top">
      <td style="width: 0"></td>
      <td style="width: 24.45pt"><b>12.</b></td>
      <td><b>Derivatives and Fair Value Disclosures</b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company uses interest rate swaps for the management of interest rate risk exposure. The interest rate swaps effectively convert a portion of the Company&#x2019;s debt from a floating to a fixed rate. The Company is a party to seven floating-to-fixed interest rate swaps with various major financial institutions covering notional amounts aggregating approximately $92,182,741 at December&nbsp;31, 2015 (2014: $48,692,694) pursuant to which it pays fixed rates ranging from 1.52% to 4.73% and receives floating rates based on the London Interbank Offered Rate (&#x201c;LIBOR&#x201d;) (approximately 0.38% at December&nbsp;31, 2015). These agreements contain no leverage features and have maturity dates ranging from March 2016 to September 2021. As of December 31, 2015 five derivative contracts qualify for hedge accounting since their inception (2014: one derivative contract).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On April 10, 2014, the Company as a condition of its term loan dated September 23, 2013, entered into an amortizing interest rate swap agreement for a notional amount of $17,553,663. The agreement is effective from September 30, 2015 and expires on September 30, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 2.60%.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On July 6, 2015, the Company as a condition of its term loan dated September 23, 2013, entered into an amortizing interest rate swap agreement for a notional amount of $17,553,663. The agreement is effective from September 30, 2015 and expires on September 30, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.69%.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On September 22, 2015, the Company as a condition of its term loan dated June 12, 2014, entered into an amortizing interest rate swap agreement for a notional amount of $12,120,000. The agreement is effective from October 2, 2015 and expires on October 2, 2020; under this agreement the Company receives each quarter interest on the notional amount based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.54%.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On October 13, 2015, the Company as a condition of its term loan dated July 4, 2014, entered into two amortizing interest rate swap agreements for a notional amount of $11,171,875 each. The first agreement is effective from November 4, 2015 and expires on August 4, 2021 and the second agreement is effective from December 3, 2015 and expires on September 3, 2021; under these agreements the Company receives each quarter interest on the notional amounts based on the three month LIBOR rate and pays interest based on a fixed interest rate of 1.52% and 1.55%, respectively.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company enters into foreign currency forward contracts in order to manage risks associated with fluctuations in foreign currencies. During 2014, the Company entered into a series of foreign currency forward contracts to hedge part of its exposure to fluctuations of its anticipated cash payments in Japanese Yen relating to certain vessels under construction. Under the contracts the Company converted U.S. dollars to approximately JPY400 million of cash outflows in 2014 and to approximately JPY500 million of cash outflows in 2015. As of and for the year ended December 31, 2013, there were no such contracts. In addition, no such contracts were entered into during the year ended December 31, 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The following tables present information on the location and amounts of derivatives&#x2019; fair values reflected in the consolidated balance sheets and with respect to gains and losses on derivative positions reflected in the consolidated statements of income or in the consolidated balance sheets, as a component of accumulated other comprehensive income/(loss).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Tabular disclosure of financial instruments is as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives designated as <br /> hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Balance&nbsp;Sheet&nbsp;Location</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 26%; font-size: 10pt; text-align: left; vertical-align: top">Interest Rate Swap Agreements</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 16%; font-size: 10pt; text-align: left">Non current assets &#x2014; Fair value of derivatives</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">127,555</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt; vertical-align: top">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Non current liabilities &#x2014; Fair value of derivatives</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">384,589</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">681,197</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt">Total derivatives designated as hedging instruments</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">384,589</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">127,555</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">681,197</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives not designated as <br /> hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Balance&nbsp;Sheet&nbsp;Location</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 26%; font-size: 10pt; text-align: left">Forward Currency Contract</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 16%; font-size: 10pt; text-align: left">Current liabilities &#x2014; Fair value of derivatives</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">583,368</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Current liabilities &#x2014; Fair value of derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">297,656</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Non current liabilities &#x2014; Fair value of derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,488,706</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt">Total derivatives not designated as hedging instruments</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,072,074</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">297,656</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The effect of derivative instruments on the consolidated statements of income for the years ended December&nbsp;31, 2013, 2014 and 2015 is as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year Ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives not designated as hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Location&nbsp;of&nbsp;Gain/(Loss)&nbsp;Recognized</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 36%; font-size: 10pt; text-align: left">Interest Rate Swap &#x2014; Reclassification from OCI</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">67,849</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">(49,471</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">)</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap &#x2014; Change in Fair Value</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,716,274</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,652,692</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,191,050</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap &#x2014; Realized loss </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(2,811,593</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,857,362</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,243,359</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Foreign Currency Contract &#x2014; Change in Fair Value </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(583,368</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">583,368</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Foreign Currency Contract &#x2014; Realized loss.. </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Loss on derivatives</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(510,875</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(669,712</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total loss on derivatives </td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(27,470</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(1,348,384</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(138,653</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year Ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives designated as hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Location&nbsp;of&nbsp; Loss&nbsp;Recognized</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 36%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt">Interest Rate Swap &#x2014; Loss reclassified from OCI (Effective portion)</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Loss on derivatives</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(231,931</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total loss on derivatives</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(231,931</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><br/><p style="font-size: 10pt; margin: 0pt 0">The components of accumulated other comprehensive income/(loss) included in the accompanying consolidated balance sheets consist of unrealized gain / (loss) on cash flow hedges and are analyzed as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Unrealized Gain / (Loss) on cash flow hedges</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 84%; font-size: 10pt; text-align: left">Balance, January 1, 2013</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">18,378</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Reclassification adjustment</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(67,849</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Balance, December 31, 2013</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(49,471</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Effective portion of changes in fair value of interest swap contracts</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(293,020</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Reclassification adjustment</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">49,471</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Balance, December 31, 2014</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(293,020</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Effective portion of changes in fair value of interest swap contracts</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(100,268</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-style: normal; text-align: left; padding-bottom: 2.25pt">Balance, December 31, 2015<font style="font-size: 10pt; font-style: normal"><b>&nbsp;</b></font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(393,288</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><br/><p style="font-size: 10pt; margin: 0pt 0">During the year ended 2013 the gain transferred from accumulated other comprehensive income/(loss) to the statement of income was $67,849 and during the year ended December&nbsp;31, 2014, the loss transferred from accumulated other comprehensive income/(loss) to the statement of income was $49,471. No transfer took place during the year ended December 31, 2015.</p><br/><p style="font-size: 10pt; margin: 0pt 0"><b><i>Fair Value of Financial Instruments and Concentration of Credit Risk:</i></b>&nbsp;Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents, restricted cash, receivables from related party, trade and other receivables, claims receivable, payable to related party, trade accounts payable and accrued liabilities. The Company limits its credit risk with respect to accounts receivable by performing ongoing credit evaluations of its customers&#x2019; financial condition and generally does not require collateral for its trade accounts receivable. The Company places its cash and cash equivalents, time deposits and other investments with high credit quality financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions. The Company is exposed to credit risk in the event of non-performance by its counterparties to derivative instruments; however, the Company limits its exposure by transacting with counterparties with high credit ratings. The carrying values of cash and cash equivalents, restricted cash, receivables from related party, trade and other receivables, claims receivable, payable to related party, trade accounts payable and accrued liabilities are reasonable estimates of their fair value due to the short term nature of these financial instruments. Cash and cash equivalents and restricted cash are considered Level 1 items as they represent liquid assets with short-term maturities. The fair value of long term bank loans is estimated based on current rates offered to the Company for similar debt of the same remaining maturities. Their carrying value approximates their fair market value due to their variable interest rate, being LIBOR. LIBOR rates are observable at commonly quoted intervals for the full terms of the loans and hence floating rate loans are considered Level 2 items in accordance with the fair value hierarchy. Additionally, the Company considers the creditworthiness of each counterparty when determining the fair value of the credit facilities. The Company&#x2019;s interest rate swap agreements are recorded at fair value. The fair value of the interest rate swaps is determined using a discounted cash flow method based on market-based LIBOR swap yield curves. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swap and therefore are considered Level 2 items.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Fair Value Disclosures:</i></b>&nbsp;The Company has categorized assets and liabilities recorded at fair value based upon the fair value hierarchy specified by the guidance. The levels of fair value hierarchy are as follows:</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Level&nbsp;1:&nbsp;Quoted market prices in active markets for identical assets or liabilities.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Level&nbsp;2:&nbsp;Observable market based inputs or unobservable inputs that are corroborated by market data.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Level&nbsp;3:&nbsp;Unobservable inputs that are not corroborated by market data.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The following table presents the fair values for assets and liabilities measured on a recurring basis categorized into a Level based upon the lowest level of significant input to the valuations as of December&nbsp;31, 2014:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs<br /> (Level 3)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Liabilities:</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="width: 48%; font-size: 10pt; text-align: left">Foreign Currency Contract</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">(583,368</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">)</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">(583,368</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">)</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(1,873,295</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(1,873,295</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(2,456,663</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(2,456,663</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The following table presents the fair values for assets and liabilities measured on a recurring basis categorized into a Level based upon the lowest level of significant input to the valuations as of December&nbsp;31, 2015:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2015</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs<br /> (Level 3)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Assets/(Liabilities):</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="width: 48%; font-size: 10pt; text-align: left">Interest Rate Swap Agreements</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">127,555</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">127,555</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(978,853</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(978,853</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(851,298</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(851,298</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><p style="font-size: 10pt; margin: 0pt 0">The following tables summarize the valuation of assets measured at fair value on a non-recurring basis as of the valuation date.</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs <br /> (Level 3)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Impairment Loss</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Long-lived assets held and used</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,977,051</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,977,051</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(6,168,747</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,977,051</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">1,977,051</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(6,168,747</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><br/><p style="font-size: 10pt; margin: 0pt 0">As a result of the impairment analysis performed for the year ended December 31, 2014, two of the Company's vessels, with a carrying amount of $8,145,798 were written down to their fair value as determined by the Company based on current demolition prices, resulting in an impairment charge of $6,168,747, which was included in the accompanying consolidated statement of income under the caption &#x201c;Impairment loss&#x201d; for the year ended December 31, 2014.</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2015</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs <br /> (Level 3)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Impairment Loss</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Long-lived assets held and used</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">7,589,921</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">7,589,921</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(8,238,987</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">7,589,921</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">7,589,921</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(8,238,987</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><br/><p style="font-size: 10pt; margin: 0pt 0">As a result of the impairment analysis performed for the year ended December 31, 2015, three of the Company's vessels, with a carrying amount of $15,828,908 were written down to their fair value as determined by the Company based on current demolition prices obtained from independent third party shipbrokers, for two of the vessels and based on vessel valuations for one of the vessels, obtained from independent third party shipbrokers as of December 31, 2015, which are mainly based on recent sales and purchase transactions of similar vessels, resulting in an impairment charge of $8,238,987. This impairment charge was included in the accompanying consolidated statement of income under the caption &#x201c;Impairment loss&#x201d; for the year ended December 31, 2015.</p><br/><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13504-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613991664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Common Stock and Additional Paid-in Capital<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Stockholders' Equity Note [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Stockholders' Equity Note Disclosure [Text Block]</a></td>
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      <td style="width: 0"></td>
      <td style="width: 24.45pt"><b>13.</b></td>
      <td><b>Common Stock and Additional Paid-in Capital </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amounts shown in the accompanying consolidated balance sheets as additional paid-in capital, represent payments made by the stockholders for the acquisitions of the Company&#x2019;s vessels, or investments in the Company&#x2019;s common stock.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On March&nbsp;22, 2010, the Company&#x2019;s Board of Directors adopted a new stock repurchase plan for up to $15,000,000 to be used for repurchasing the Company&#x2019;s common shares. For the year ended December&nbsp;31, 2010, the Company completed the repurchase of 1,205,229&nbsp;shares paying an average price per share of $5.21. These shares were cancelled and removed from the Company&#x2019;s capital stock. During the year ended December&nbsp;31, 2011, the Company completed the repurchase of additional 551,646&nbsp;shares paying an average price per share of $4.05. These shares are held as treasury stock by the Company. No shares were repurchased during the years ended December&nbsp;31, 2012 and 2013.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On April 30, 2013, the Company completed a follow-on public offering of 11,500,000&nbsp;shares of common stock, par value of $0.01, for $10.00 per share. The gross proceeds from the offering amounted to $115,000,000, while the net proceeds after the underwriters&#x2019; discounts and commissions and other related expenses amounted to $109,119,029.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On February 14, 2014, the Company completed an underwritten registered offering of 3,398,558&nbsp;shares of common stock, par value of $0.01, for $9.71 per share. The gross proceeds from the offering amounted to $32,999,998, while the net proceeds after the underwriters&#x2019; discounts and commissions and other related expenses amounted to $31,937,044.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On May 7, 2014, the Company completed an underwritten registered offering of 4,476,195&nbsp;shares of common stock, par value of $0.01, for $10.50 per share. The gross proceeds from the offering amounted to $47,000,047, while the net proceeds after the underwriters&#x2019; discounts and commissions and other related expenses amounted to $46,294,133.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On August 12, 2014, the Company completed an underwritten registered offering of 3,500,000&nbsp;shares of common stock, par value of $0.01, for $10.00 per share. The gross proceeds from the offering amounted to $35,000,000, while the net proceeds after the underwriters&#x2019; discounts and commissions and other related expenses amounted to $34,071,501.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On November&nbsp;26, 2014, the Company&#x2019;s Board of Directors adopted a new stock repurchase plan for up to $10,000,000 to be used for repurchasing the Company&#x2019;s common shares. For the year ended December&nbsp;31, 2014, the Company completed the repurchase of 843,022&nbsp;shares paying an average price per share of $6.30. These shares are held as treasury stock by the Company.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On February&nbsp;26, 2015, the Company&#x2019;s Board of Directors approved the extension of the existing stock repurchase plan for an additional amount of $20,000,000 to be used for repurchasing the Company&#x2019;s common shares. For the year ended December&nbsp;31, 2015, the Company completed the repurchase of 2,372,097&nbsp;shares paying an average price per share of $5.46. These shares are held as treasury stock by the Company.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(d),(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB TOPIC 4.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Preferred Stock<br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section C<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6618893072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Equity Compensation Plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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      <td style="width: 24.5pt"><b>14.</b></td>
      <td><b>Equity Compensation Plan</b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">During 2007, the Company&#x2019;s board of directors has adopted an Equity Compensation Plan (&#x201c;the Plan&#x201d;), under which the Company&#x2019;s employees, directors or other persons or entities providing significant services to the Company or its subsidiaries are eligible to receive stock-based awards including restricted stock, restricted stock units, unrestricted stock, bonus stock, performance stock and stock appreciation rights. The Plan is administered by the Compensation Committee of the Company&#x2019;s board of directors and the aggregate number of shares of common stock reserved under this plan cannot exceed 10% of the number of shares of Company&#x2019;s common stock issued and outstanding at the time any award is granted. The Company&#x2019;s Board of Directors may terminate the Plan at any time. As of December&nbsp;31, 2015, a total of 555,479 restricted shares had been granted under the Plan since the first grant in the third quarter of 2007.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On November 22, 2012, the Company granted 74,761 non-vested restricted shares to the Company&#x2019;s CEO, CFO, Executive and non-executive members of Board of Directors. The fair value of each share granted was $7.26 which is equal to the market value of the Company&#x2019;s common stock on that day. The restricted shares vested on September 30, 2014.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">On November&nbsp;20, 2014, the Company granted 230,713 of non-vested restricted shares to the Company&#x2019;s CEO and non-executive members of Board of Directors of the Company. The fair value of each share granted was $7.58 which is equal to the market value of the Company&#x2019;s common stock on that day. The restricted shares vest over 3&nbsp;years from the grant date, (115,357 restricted shares on November&nbsp;20, 2015, 57,678 restricted shares on November&nbsp;20, 2016 and 57,678 restricted shares on November&nbsp;20, 2017).</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">All unvested restricted shares are conditional upon the option holder&#x2019;s continued service as an employee of the Company, or as a director until the applicable vesting date. Until the forfeiture of any restricted shares, the grantee has the right to vote such restricted shares, to receive and retain all regular cash dividends paid on such restricted shares and to exercise all other rights provided that the Company will retain custody of all distributions other than regular cash dividends made or declared with respect to the restricted shares.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company pays dividends on all restricted shares regardless of whether they have vested and there is no obligation of the employee to return the dividend when employment ceases. The Company did not pay any dividends in the years ended December&nbsp;31, 2013, 2014 and 2015.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company estimates the forfeitures of restricted shares to be immaterial. The Company will, however, re-evaluate the reasonableness of its assumption at each reporting period.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Management has selected the accelerated method allowed by the guidance with respect to recognizing stock based compensation expense for restricted share awards with graded vesting because it considers this method to better match expense with benefits received.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until non-employees complete the service.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The stock based compensation expense for the vested and non-vested shares for the years ended December&nbsp;31, 2013, 2014 and 2015 amounted to $292,628, $357,967 and $1,140,084, respectively, and is included in the consolidated statements of income under the caption &#x201c;General and administrative expenses&#x201d;.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">A summary of the status of the Company&#x2019;s non-vested restricted shares as of December&nbsp;31, 2015, is presented below: &nbsp;</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 90%">

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       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Number&nbsp;of<br /> restricted&nbsp; shares</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Weighted&nbsp;average&nbsp;grant<br /> date fair&nbsp;value per<br /> non-vested share</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 64%; font-size: 10pt">Non-vested, January&nbsp;1, 2015 </td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">230,713</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">7.58</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
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       <td style="font-size: 10pt">Vested </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">115,357</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7.58</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Forfeited </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Non-vested, December&nbsp;31, 2015 </td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">115,356</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">7.58</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><p style="font-size: 10pt; margin: 0pt 0">The total fair value of shares vested during the years ended December&nbsp;31, 2014 and 2015 was $681,073 and $441,815, respectively, based on the closing share price at each vesting date. No shares vested during the year ended December 31, 2013. The remaining unrecognized compensation cost amounting to $469,623 as of December 31, 2015, is expected to be recognized over the remaining period of 1.89 years, according to the contractual terms of those non-vested share awards.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6615168304">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Earnings Per Share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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     <tr style="vertical-align: top">
      <td style="width: 0"></td>
      <td style="width: 24.45pt"><b>15.</b></td>
      <td><b>Earnings per share </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share give effect to all potentially dilutive securities. All of the Company&#x2019;s shares (including non-vested restricted stock issued under the Plan) participate equally in dividend distributions and in undistributed earnings.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company applies the two-class method of computing earnings per share (EPS) as the unvested share-based payment awards that contain rights to receive non forfeitable dividends are participating securities. Dividends declared during the period for non-vested restricted stock as well as undistributed earnings allocated to non-vested stock are deducted from net income for the purpose of the computation of basic earnings per share in accordance with the two-class method. The denominator of the basic earnings per common share excludes any non-vested shares as such they are not considered outstanding until the time-based vesting restriction has elapsed.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">For purposes of calculating diluted earnings per share, dividends declared during the period for non-vested restricted stock and undistributed earnings allocated to non-vested stock are not deducted from net income as reported since such calculation assumes non-vested restricted stock is fully vested from the grant date.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;The Company calculates basic and diluted earnings&nbsp;per share as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Year Ended December&nbsp;31,</font></td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">2013</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">2014</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">2015</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">Numerator</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="width: 61%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">Net income </font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,217,193</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,685,826</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2,566,678</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Less: Undistributed earnings allocated to non-vested shares </font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(55,958</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(26,357</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(13,457</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Net income attributable to common shareholders, basic </font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,161,235</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,659,469</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2,553,221</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">Denominator</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Weighted average number of shares outstanding, basic and diluted </font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">28,271,746</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">39,305,644</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">41,315,127</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Earnings per share, basic and diluted </font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">0.75</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">0.32</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">0.06</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>

    </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The Company excluded the dilutive effect of 115,356 (2014: 230,713, 2013:74,761) non-vested share awards in calculating dilutive EPS for its common shares as of December 31, 2015, as they were anti-dilutive.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752409776">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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     <tr style="vertical-align: top">
      <td style="width: 24.45pt"><b>16.</b></td>
      <td><b>Voyage Expenses and Vessel Operating Expenses </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">The amounts in the accompanying consolidated statements of income are analyzed as follows:</p><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Voyage Expenses</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 61%; font-size: 10pt; text-align: left">Port expenses </td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">2,067,494</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">2,278,961</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">3,960,574</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">Bunkers </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">8,347,130</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7,553,318</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">8,566,490</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Commissions </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">3,244,939</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">3,725,645</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">4,112,177</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Other voyage expenses </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">643,067</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">529,587</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">936,297</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">14,302,630</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">14,087,511</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">17,575,538</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><br/><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Vessels&#x2019; Operating Expenses</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 61%; font-size: 10pt; text-align: left">Crew wages and related costs </td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">22,138,595</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">26,378,730</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">31,391,419</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">Insurance </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,667,915</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,028,142</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,415,028</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Repairs and maintenance </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">4,243,133</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,194,476</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,091,916</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Spares and consumable stores </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,757,455</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7,120,974</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7,978,592</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Miscellaneous expenses </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">2,716,455</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">4,713,014</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">3,777,670</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">36,523,553</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">45,435,336</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">50,654,625</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Income Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Under the laws of the countries of the companies&#x2019; incorporation and/or vessels&#x2019; registration, the companies are not subject to tax on international shipping income, however, they are subject to registration and tonnage taxes, which have been included in Vessel operating expenses in the consolidated statements of income.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Pursuant to the Internal Revenue Code of the United States (the &#x201c;Code&#x201d;), U.S.&nbsp;source income from the international operations of ships is generally exempt from U.S.&nbsp;tax if the Company operating the ships meets certain requirements. Among other things, in order to qualify for this exemption, the Company operating the ships must be incorporated in a country which grants an equivalent exemption from income taxes to U.S.&nbsp;corporations. All the Company&#x2019;s ship-operating subsidiaries satisfy these initial criteria. In addition, these companies must be more than 50% owned by individuals who are residents, as defined, in the country of incorporation or another foreign country that grants an equivalent exemption to U.S.&nbsp;corporations. These companies also currently satisfy the more than 50% beneficial ownership requirement.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In addition, the management of the Company believes that by virtue of a special rule applicable to situations where the ship-operating companies are beneficially owned by a publicly traded company like the Company, the more than 50% beneficial ownership requirement can also be satisfied based on the trading volume and the anticipated widely-held ownership of the Company&#x2019;s shares, but no assurance can be given that this will remain so in the future, since continued compliance with this rule is subject to factors outside the Company&#x2019;s control.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6612870304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text">&#160;<span></span>
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      <td>From time to time the Company expects to be subject to legal proceedings and claims in the ordinary course of its business, principally personal injury and property casualty claims. Such claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. On August 5, 2015, our Aframax tanker &#x201c;Spike&#x201d; was arrested. This action related to security sought in connection with an arbitration proceeding involving a vessel not in the Company&#x2019;s fleet that the applicant claims is under common control with the MT &#x201c;Spike&#x201d;. On August 20, 2015, the Company in order to secure the vessel&#x2019;s release, lodged to the court a bank guarantee amounting to $9,837,000. As of December 31, 2015, this amount was in a restricted account and is presented under current restricted cash in the consolidated balance sheet. The Company believes that the outcome of this case will not have a material effect on its operations and financial position and will possibly result in the release of the bank guarantee and an equal increase in the cash flows from investing activities.</td>
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      <td>During 2014, the Company has entered into separate agreements to acquire six LPG carriers which are currently under construction, and are described in Notes 3 and 5. The Company has future outstanding commitments for installment payments for these agreements as follows:</td>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Amount</td>
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       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 16%; font-size: 10pt; text-align: right">62,365,151</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
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       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">2017 </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">145,824,000</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">208,189,151</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
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     <tr style="vertical-align: top">
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      <td style="width: 18.35pt">&#x2022;</td>
      <td>Future minimum contractual charter revenues, gross of commissions, based on vessels committed to non-cancellable, long-term time and bareboat charter contracts as of December&nbsp;31, 2015, amount to $82,976,254 during 2016, $41,053,799 during 2017, $24,228,368 during 2018, $19,432,253 during 2019 and $17,677,068 during 2020. These amounts do not include any assumed off-hire. Of these amounts, $7,412,400 for the year ending December 31, 2016 and $2,023,500 for the year ending December 31, 2017 relate to time charter agreements with Emihar Petroleum Inc.as discussed in Note 3.</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6611654192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Sale and Leaseback of Vessels<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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      <td style="width: 24.5pt"><b>19.</b></td>
      <td><b>Sale and Leaseback of Vessels </b></td>
     </tr>

   </table><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In November and December 2014, the Company sold the vessels Gas Premiership and Gas Cathar and realized a total gain of $780,695. The Company entered into bareboat charter agreements to leaseback the vessels for a period of four years. The charter back agreements are accounted for as operating leases and the gain on the sale was deferred and is being amortized to income over the four-year lease period. For the years ended December&nbsp;31, 2014 and 2015, the amortization amounted to $4,954 and $195,040, respectively, and is included in Charter hire expenses in the consolidated statements of income. Lease payments relating to the bareboat charters of the vessels amounted to $325,758 and $4,320,000 for the years ended December 31, 2014 and 2015, and are included in Charter hire expenses in the consolidated statements of income. Future lease payments as of December 31, 2015, until the expiry of the charter back agreements, amount to $4,320,000 during 2016, $4,320,000 during 2017 and $4,008,000 during 2018.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for sale leaseback transactions.  Includes the elements of a transaction involving the sale of property to another party and the lease of the property back to the seller.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6456377&amp;loc=d3e50824-112756<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6751629072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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      <td style="width: 24.5pt"><b>20.</b></td>
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      <td style="width: 24.5pt">(a)</td>
      <td>On February 5, 2016, the Company paid the delivery installment amounting to $12,472,151 and took delivery of the vessel &#x201c;Eco Nical&#x201d;.</td>
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      <td style="width: 24.5pt">(b)</td>
      <td>On February 16, 2016, the committed third tranche of the facility agreement dated December 20, 2013 amounting to $15,600,000 was drawn down.</td>
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      <td style="width: 24.5pt">(c)</td>
      <td>On February 24, 2016, the Company entered into an agreement with Brave for the supervision of the construction of four of its vessels for a fixed fee of Euro 490,000 ($539,343 based upon the EUR/USD exchange rate of 1.1007) per vessel.</td>
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      <td>On March 7, 2016 the Company entered into a term sheet with a bank to partially finance the acquisition of two LPG carriers on their delivery. The aggregate term loan is up to $76,020,000 and will be drawn down in two tranches upon the delivery of each vessel. The total facility will be repayable, with the first installment commencing three months after the drawdown, in thirty two consecutive quarterly installments plus a balloon payment payable together with the last installment.</td>
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      <td>On March 9, 2016 the Company signed a commitment letter with a bank to partially finance the acquisition of two LPG carriers on their delivery. The aggregate committed term loan is up to $74,480,000 and will be drawn down in two tranches upon the delivery of each vessel. The total facility will be repayable, with the first installment commencing three months after the drawdown, in thirty two consecutive quarterly installments plus a balloon payment payable together with the last installment.</td>
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      <td>From the beginning of 2016 and up to April 1, 2016, the Company completed the repurchase of 644,178 shares of common stock paying an average price per share of $3.09. These shares are held as treasury stock by the Company.</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6821392208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies, by Policy (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Principles of Consolidation:</i></b>&nbsp;The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#x201c;US GAAP&#x201d;) and include the accounts of StealthGas Inc. and its wholly owned subsidiaries. All inter-company balances and transactions have been eliminated upon consolidation.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Use of Estimates:</i></b>&nbsp;The preparation of consolidated financial statements in conformity with US&nbsp;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive Income, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Other Comprehensive Income/(Loss):</i></b>&nbsp;The Company follows the provisions of guidance regarding reporting comprehensive income which requires separate presentation of certain transactions, such as unrealized gains and losses from effective portion of cash flow hedges, which are recorded directly as components of stockholders&#x2019; equity.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign Currency Transactions and Translations Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Foreign Currency Translation:</i></b>&nbsp;The functional currency of the Company is the U.S.&nbsp;Dollar because the Company&#x2019;s vessels operate in international shipping markets, which utilize the U.S.&nbsp;Dollar as the functional currency. The accounting books of the Company are maintained in U.S.&nbsp;Dollars. Transactions involving other currencies during the year are converted into U.S.&nbsp;Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated to reflect the period end exchange rates. Resulting gains or losses are separately reflected in the accompanying consolidated statements of income.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Cash and Cash Equivalents:</i></b>&nbsp;The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash equivalents.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; margin: 0pt 0"><b><i>Restricted Cash:</i></b>&nbsp;Restricted cash mainly reflects deposits with certain banks that can only be used to pay the current loan installments or which are required to be maintained as a certain minimum cash balance per mortgaged vessel or cash held in restricted bank account for guarantees issued by the bank on the Company&#x2019;s behalf. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TradeAndOtherAccountsReceivablePolicy', window );">Trade and Other Accounts Receivable, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Trade Receivables:</i></b>&nbsp;The amount shown as trade receivables includes estimated recoveries from charterers for hire, freight and demurrage billings, net of allowance for doubtful accounts. At each balance sheet date, all potentially un-collectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision for doubtful accounts was required for any of the periods presented.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesPolicyTextBlock', window );">Receivables, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Claims Receivable:</i></b>&nbsp;Claims receivable are recorded on the accrual basis and represent the claimable expenses, net of deductibles, incurred through each balance sheet date, for which recovery from insurance companies is probable and claim is not subject to litigation. Any remaining costs to complete the claims are included in accrued liabilities.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventory, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Inventories:</i></b>&nbsp;Inventories consist of bunkers (for vessels under voyage charter) and lubricants. The cost is determined by the first-in, first-out method. The Company considers victualling and stores as being consumed when purchased and, therefore, such costs are expensed when incurred.</p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionPolicyPolicyTextBlock', window );">Advances for Vessels Under Construction, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Advances for vessels under construction:</i></b> This represents amounts expended by the Company in accordance with the terms of the construction contracts for vessels as well as other expenses in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are capitalized.</p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsAcquisitionsPolicyTextBlock', window );">Vessels Acquisitions [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Vessels Acquisitions:</i></b>&nbsp;Vessels are stated at cost, which consists of the contract price less discounts and any material expenses incurred upon acquisition (initial repairs, improvements, acquisition and expenditures made to prepare the vessel for its initial voyage). Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels, or otherwise are charged to expenses as incurred. The Company records all identified tangible and intangible assets associated with the acquisition of a vessel or liabilities at fair value. Where vessels are acquired with existing time charters, the Company allocates the purchase price to the time charters based on the present value (using an interest rate which reflects the risks associated with the acquired charters) of the difference between (i)&nbsp;the contractual amounts to be paid pursuant to the charter terms and (ii)&nbsp;management&#x2019;s estimate of the fair market charter rate, measured over a period equal to the remaining term of the charter. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to revenues over the remaining term of the charter.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock', window );">Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Impairment or Disposal of Long-lived Assets:</i></b>&nbsp;The Company follows the Accounting Standards Codification (&#x201c;ASC&#x201d;) Subtopic 360-10, &#x201c;Property, Plant and Equipment&#x201d; (&#x201c;ASC 360-10&#x201d;), which requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts. If indicators of impairment are present, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets.&nbsp;If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value and the difference is recorded as an impairment loss in the consolidated statements of income.&nbsp;Various factors including anticipated future charter rates, estimated scrap values, future dry-docking costs and estimated vessel operating costs are included in this analysis. These factors are based on historical trends as well as future expectations. Undiscounted cashflows are determined by considering the revenues from existing charters for those vessels that have long term employment and when there is no charter in place the estimates based on historical average rates with an annual increase of 1%. The Company also assumes an average annual inflation rate of 1.50% for operating expenses. No impairment loss was identified or recorded for the year ended December 31, 2013. An impairment loss was identified and recorded for the years ended December 31, 2014 and 2015 (Note 6).</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortizationPolicyTextBlock', window );">Depreciation, Depletion, and Amortization [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Vessels&#x2019; Depreciation:</i></b>&nbsp;The cost of each of the Company&#x2019;s vessels is depreciated on a straight-line basis over the vessel&#x2019;s remaining economic useful life, after considering the estimated residual value. Management estimates the useful life of each of the Company&#x2019;s LPG carriers to be 30 years and product and aframax tankers, to be 25&nbsp;years, from the date of their construction.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, Plant and Equipment, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; margin: 0pt 0; text-indent: 30pt"><b><i>Assets Held for Sale:&nbsp;</i></b>It is the Company&#x2019;s policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies vessels as being held for sale when the following criteria are met: (i)&nbsp;management possessing the necessary authority has committed to a plan to sell the vessels, (ii)&nbsp;the vessels are available for immediate sale in their present condition, (iii)&nbsp;an active program to find a buyer and other actions required to complete the plan to sell the vessels have been initiated, (iv)&nbsp;the sale of the vessels is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year and (v)&nbsp;the vessels are being actively marketed for sale at a price that is reasonable in relation to their current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. Furthermore, in the period a vessel meets the held for sale criteria in accordance with ASC 360-10, a loss is recognized for any reduction of the vessel&#x2019;s carrying amount to its fair value less cost to sell. No assets were held for sale as of December&nbsp;31, 2014. Concerning assets held for sale as of December 31, 2015, refer to Note 6.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingPolicyPolicyTextBlock', window );">Segment Reporting, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Segment Reporting:</i></b>&nbsp;The Company reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable.</p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AccountingForSpecialSurveyAndDryDockingCostsPolicyTextBlock', window );">Accounting For Special Survey and Dry-Docking Costs [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Accounting for Special Survey and Dry-docking Costs:</i></b>&nbsp;Special survey and dry-docking costs and all non-capitalizable repair and maintenance expenses are expensed in the period incurred.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredChargesPolicyTextBlock', window );">Deferred Charges, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Deferred Finance Charges:</i></b>&nbsp;Fees incurred for obtaining new loans or refinancing existing ones are deferred and amortized to interest expense over the life of the related debt using the effective interest method. The unamortized deferred financing charges are presented as a direct deduction from the carrying amount of the related loan and credit facility in the consolidated balance sheet. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing is made. Deferred financing costs relating to undrawn facilities are presented under non-current assets in the consolidated balance sheet.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Accounting for Revenue and Related Expenses:</i></b>&nbsp;The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using either voyage charters, where a contract is made in the spot market for the use of a vessel for a specific voyage for a specified charter rate, or time and bareboat charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily or monthly charter hire rate payable monthly in advance. If a charter agreement exists and the price is fixed, service is provided and collection of the related revenue is reasonably assured, revenue is recognized as it is earned ratably on a straight-line basis over the duration of the period of each voyage or period charter. A voyage is deemed to commence upon the completion of discharge of the vessel&#x2019;s previous cargo and is deemed to end upon the completion of discharge of the current cargo, but the Company does not begin recognizing revenue until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port for its next voyage. Demurrage income represents payments by a charterer to a vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized ratably as earned during the related voyage charter&#x2019;s duration period. Deferred income includes cash received prior to the balance sheet date and is related to revenue earned after such date.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Voyage expenses comprise commissions, bunkers and port expenses and are unique to a particular charter. Commissions in all cases are paid by the Company and are recognized on a pro-rata basis. All other voyage expenses are paid by the charterer under time charter arrangements or by the Company under voyage charter arrangements and are recognized as incurred.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;Vessel operating expenses comprise all expenses relating to the operation of the vessel, including crewing, repairs and maintenance, insurance, stores, lubricants and miscellaneous expenses. Vessel operating expenses are paid by the Company and are accounted for on an accrual basis.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating expenses, dry-docking expenses and risk of operation.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasePolicyTextBlock', window );">Lease, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Leasing:</i></b>&nbsp;Leases are classified as capital leases if they meet at least one of the following criteria: (i) the leased asset automatically transfers title at the end of the lease term; (ii) the lease contains a bargain purchase option; (iii) the lease term equals or exceeds 75% of the remaining estimated economic life of the leased asset; (iv) or the present value of the minimum lease payments equals or exceeds 90% of the excess of fair value of the leased property. If none of the above criteria is met, the lease is accounted for as an operating lease. Operating lease payments are recognized as an operating expense in the consolidated statement of income on a straight-line basis over the lease term. For sale and lease back transactions, when the lease qualifies as an operating lease and the lease back is considered &#x201c;more than minor but less than substantially all&#x201d; i.e. the seller-lessee retains more than a minor part but less than substantially all of the use of the asset, the resulting gains are deferred and amortized to income over the lease period.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Equity Compensation Plan:</i></b>&nbsp;Share-based compensation includes vested and non-vested shares granted to employees and to non-employee directors, for their services as directors and is included in General and administrative expenses in the consolidated statements of income. These shares are measured at their fair value, which is equal to the market value of the Company&#x2019;s common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and a total fair value of such shares is recognized in full on the grant date. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized over the vesting period on a straight-line basis over the requisite service period for each separate portion of the award as if the award was, in substance, multiple awards (graded vesting attribution method). In addition, non-vested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates until non-employees complete the service (Note&nbsp;14).</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings Per Share, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Earnings per Share:</i></b>&nbsp;Basic earnings per share are computed under the two-class method by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised.</p><br/><p style="font-size: 10pt; margin: 0pt 0">Dilution is computed by either the treasury stock method or the two&#x2013;class method, whichever results in the more dilutive effect. Under the treasury stock method, all of the Company&#x2019;s dilutive securities are assumed to be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company&#x2019;s common stock during the relevant periods. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings per share computation to the extent these are not anti-dilutive (Note&nbsp;15).</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesPolicyTextBlock', window );">Derivatives, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"><b><i>Derivatives</i></b>:&nbsp;The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed interest rate for a certain period in exchange. The Company designates its derivatives based upon guidance on ASC 815, &#x201c;Derivatives and Hedging&#x201d; which establishes accounting and reporting requirements for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. The guidance on accounting for certain derivative instruments and certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are met.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">(i) <b>Hedge Accounting</b>: At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument&#x2019;s effectiveness in offsetting exposure to changes in the hedged item&#x2019;s cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of &#x201c;Accumulated other comprehensive income/loss&#x201d; in equity, while any ineffective portion, if any, is recognized immediately in current period earnings.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the statement of income. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as a component of &#x201c;Loss on derivatives&#x201d;.</p><br/><p style="font-size: 10pt; margin: 0pt 0 0pt 24.45pt">(ii) <b>Other Derivatives</b>: Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in current period earnings.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">New Accounting Pronouncements, Policy [Policy Text Block]</a></td>
<td class="text"><p style="font-size: 10pt; text-indent: 24.45pt; margin: 0pt 0"><b><i>Recent Accounting Pronouncements</i></b>:&nbsp;On May&nbsp;28, 2014, the Financial Accounting Standards Board (&#x201c;FASB&#x201d;) issued Accounting Standard Update (&#x201c;ASU&#x201d;) No 2014-09 as amended by ASU 2015-14 which was issued on August&nbsp;12, 2015, Revenue From Contracts With Customers, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities with reporting periods beginning after December&nbsp;15, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December&nbsp;15, 2016. The Company is currently evaluating the impact, if any, of the adoption of this new standard.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In April 2015, the FASB issued ASU No 2015-03, "Simplifying the Presentation of Debt Issuance Costs", which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. ASU 2015-03 was early adopted by the Company during the fourth quarter of 2015 with retrospective application.&nbsp;The reclassification does not impact net income as previously reported or any prior amounts reported on the consolidated statements of comprehensive income, or the consolidated statements of cash flows. The effect of the retrospective application of this change in accounting principle on the Company&#x2019;s consolidated balance sheets as of December&nbsp;31, 2014 resulted in a reduction of Deferred finance charges in the amount of $1,521,543 with a corresponding decrease of $1,032,992 in Long-term debt and Total non current liabilities and a decrease of $488,551 in Current portion of long-term debt and Total current liabilities.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory to simplify the measurement of inventory using first-in, first out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In February 2016, the FASB issued ASU 2016-02<font style="color: #313131">, Leases (Topic 842)</font>. The standard amends the existing accounting standards for lease accounting and adds additional disclosures about leasing arrangements. The ASU requires lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by most leases, while lessor accounting remains largely unchanged. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018. Early adoption is permitted for all entities. The Company has not yet evaluated the impact, if any, of the adoption of this new standard.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In March 2016, the FASB issued amendments concerning the effect of derivative contract novations on existing hedge accounting relationships. As it relates to derivative instruments, novation refers to replacing one of the parties to a derivative instrument with a new party, which may occur for a variety of reasons such as: financial institution mergers, intercompany transactions, an entity exiting a particular derivatives business or relationship, or because of laws or regulatory requirements. The amendments clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under the guidance for Derivatives and Hedging (Topic 815) does not, in and of itself, require dedesignation of that hedge accounting relationship provided that all other hedge accounting criteria continue to be met. The amendments are effective for public entities for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The amendments may be applied on either a prospective basis or a modified retrospective basis and early application is permitted. Management believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.</p><br/><p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The adoption of this guidance is not expected to have a material impact on the Company's financial statements.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding the accounting for special survey and dry-docking costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding advances for vessels under construction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding vessel acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph k<br> -Article 1<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02, 03<br> -Article 3A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for deferral and amortization of significant deferred charges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredChargesPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for depreciation, depletion, and amortization of property and equipment costs, including methods used and estimated useful lives and how impairment of such assets is assessed and recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for its derivative instruments and hedging activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41620-113959<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(n))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579240-113959<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579245-113959<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41675-113959<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41638-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativesPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the impairment and disposal of long-lived assets including goodwill and other intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4492-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4556-108314<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 206<br> -Paragraph b<br> -Subparagraph i, ii<br> -Chapter 2<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 6<br> -Subparagraph a<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasePolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for leasing arrangements (both lessor and lessee). This disclosure may address (1) lease classification (that is, operating versus capital), (2) how the term of a lease is determined (for example, the circumstances in which a renewal option is considered part of the lease term), (3) how rental revenue or expense is recognized for a lease that contains rent escalations, (4) an entity's accounting treatment for deferred rent, including that which arises from lease incentives, rent abatements, rent holidays, or tenant allowances (5) an entity's accounting treatment for contingent rental payments and (6) an entity's policy for reviewing, at least annually, the residual values of sales-type and direct-finance leases. The disclosure also may indicate how the entity accounts for its capital leases, leveraged leases or sale-leaseback transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453394&amp;loc=d3e39740-112701<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6482485&amp;loc=d3e14754-158437<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456037&amp;loc=d3e48589-112741<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeasePolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for segment reporting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables.  If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6378556&amp;loc=d3e10133-111534<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5212-111524<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5093-111524<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3, 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6061-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6143-108592<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6132-108592<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6614995072">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Basis of Presentation and General Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613969392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventory Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock', window );">Schedule of Inventory, Current [Table Text Block]</a></td>
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       <td style="font-size: 10pt">&nbsp;</td>
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       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
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      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
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       <td style="width: 64%; font-size: 10pt">Bunkers </td>
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       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">1,426,838</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">1,116,604</td>
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       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,531,828</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,799,650</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
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      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
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       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,958,666</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
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       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,916,254</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 2<br> -Paragraph 6<br> -Subparagraph a,b,c<br> -Article 5<br></p></div>
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<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6614738784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract', window );"><strong>Advances For Vessels Under Construction And Acquisitions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitionsTableTextBlock', window );">Advances for Vessels Under Construction and Acquisitions [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%">

      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 82%; font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2013 </td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; font-weight: bold; text-align: right">70,577,435</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Advances for vessels under construction and acquisitions </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">124,973,343</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Capitalized interest </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,113,297</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
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       <td style="font-size: 10pt; text-align: left">Capitalized expenses </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,805,342</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Vessels delivered </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(101,459,533</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Vessels cancelled (Note 3) </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(10,044,799</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2014 </td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">88,965,085</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Advances for vessels under construction and acquisitions </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">148,318,231</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Capitalized interest </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,822,443</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Capitalized expenses </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,085,534</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Vessels delivered </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(200,159,411</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance, December&nbsp;31, 2015 </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">44,031,882</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6618316896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Vessels, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Property, Plant and Equipment [Table Text Block]</a></td>
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       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Vessel cost</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Accumulated<br /> Depreciation</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Net Book<br /> Value</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 52%; font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2013 </td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">849,452,594</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">(172,429,692</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">677,022,902</td>
       <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">101,459,533</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">101,459,533</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Disposals </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(39,075,007</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">11,925,771</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(27,149,236</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Impairment loss </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(16,449,131</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">10,280,384</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(6,168,747</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Depreciation for the year </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(33,811,607</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(33,811,607</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold">Balance, December&nbsp;31, 2014 </td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">895,387,989</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">(184,035,144</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right">711,352,845</td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-left: 10pt; text-indent: -10pt">Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions) </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">200,159,411</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">200,159,411</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Disposals </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,977,051</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,977,051</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Impairment loss </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(26,190,677</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">17,951,690</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(8,238,987</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Vessel held for sale </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(748,823</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(748,823</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Depreciation for the year </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(35,857,507</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(35,857,507</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance, December&nbsp;31, 2015 </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,066,630,849</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(201,940,961</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">864,689,888</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613702048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Accrued Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
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      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
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       <td style="width: 64%; font-size: 10pt; text-align: left">Interest on long-term debt </td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">1,436,466</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">2,536,034</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Administrative expenses </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">339,778</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">291,932</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Vessel operating and voyage expenses </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">2,126,783</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">2,774,973</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">3,903,027</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">5,602,939</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752237584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Long-term Debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtTableTextBlock', window );">Schedule of Debt [Table Text Block]</a></td>
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      <tr style="vertical-align: bottom">
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Term Loans</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">Original</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">December 31,</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Movement in 2015</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">December 31,</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Issue Date</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Maturity Date</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Amount</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">2014</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Additions</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">Repayments</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">2015</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 14%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 5, 2005</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 14%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 9, 2016</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 12%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">100,067,500</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">13,816,882</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(5,029,852</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 11%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">8,787,030</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">May 17, 2006</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">May 30, 2016</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">79,850,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">14,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(14,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 6, 2006</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 28, 2016</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">6,580,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,763,440</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(473,760</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,289,680</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 21, 2007</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 21, 2017</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">49,875,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,365,764</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(4,869,014</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">17,496,750</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">February 12, 2008</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">February 19, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">40,250,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,875,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(2,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,375,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">July 30, 2008</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">November 4, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">33,240,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,606,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(1,939,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,667,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">October 9, 2008</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">October 9, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">29,437,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">8,650,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(780,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">7,870,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">January 30, 2009</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">July 15, 2016</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">45,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">30,550,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">27,150,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 14, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 14, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">20,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,300,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(2,200,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">17,100,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">February 1, 2011</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 1, 2018</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">49,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">37,850,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,300,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">34,550,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">March 1, 2011</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 20, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">43,250,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">35,375,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">32,375,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 23, 2013</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 30, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">45,212,500</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">38,896,767</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(5,052,587</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">33,844,180</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">March 24, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 30, 2021</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">50,225,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">33,040,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">15,925,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(2,520,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">46,445,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 16, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">April 16, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">30,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,915,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">15,750,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(3,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">25,665,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 12, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">October 2, 2020</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">13,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">13,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(880,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,120,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">June 20, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">January 8, 2023</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">20,925,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">20,925,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(1,065,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">19,860,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 20, 2013</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">November 16, 2022</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">67,200,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">32,000,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">31,500,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 24, 2015</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">December 14, 2022</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,400,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">July 4, 2014</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">September 3, 2021</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,750,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,750,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">(406,250</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">22,343,750</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center; padding-bottom: 1.1pt"><font style="font-size: 10pt">July 29, 2014</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center; padding-bottom: 1.1pt"><font style="font-size: 10pt">July 7, 2023</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">25,350,000</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">-</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">25,350,000</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(528,125</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">24,821,875</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">Total</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">325,503,853</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">155,100,000</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">(55,943,588</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">424,660,265</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Current portion of long-term debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">42,614,213</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">75,546,625</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Long term debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">282,889,640</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">349,113,640</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">Total debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">325,503,853</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">424,660,265</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Current portion of deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">488,551</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">618,174</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Deferred finance charges non-current</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,032,992</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,879,537</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Total deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">1,521,543</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">2,497,711</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Total debt</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">325,503,853</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">424,660,265</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="5" style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Less: Total deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1,521,543</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2,497,711</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">Total&nbsp;&nbsp;debt, net of deferred finance charges</font></td>
       <td style="text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">323,982,310</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">422,162,554</font></td>
       <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Less: Current portion of long-term debt, net of current portion of deferred finance charges</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">42,125,662</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">74,928,451</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.1pt"><font style="font-size: 10pt">Long term debt, net of deferred finance charges</font></td>
       <td style="text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">281,856,648</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><font style="font-size: 10pt">347,234,103</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Schedule of Maturities of Long-term Debt [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 90%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left">December&nbsp;31,</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Amount</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 83%; font-size: 10pt; text-align: left">2016 </td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: right">75,546,625</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">2017 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">49,251,665</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">2018 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">58,462,415</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">2019 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">29,887,415</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">2020 </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">105,420,661</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; padding-bottom: 1.1pt; text-align: left">Thereafter </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">106,091,485</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">424,660,265</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock', window );">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives designated as <br /> hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Balance&nbsp;Sheet&nbsp;Location</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 26%; font-size: 10pt; text-align: left; vertical-align: top">Interest Rate Swap Agreements</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 16%; font-size: 10pt; text-align: left">Non current assets &#x2014; Fair value of derivatives</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">127,555</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt; vertical-align: top">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Non current liabilities &#x2014; Fair value of derivatives</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">384,589</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">681,197</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt">Total derivatives designated as hedging instruments</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">384,589</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">127,555</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">681,197</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives not designated as <br /> hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Balance&nbsp;Sheet&nbsp;Location</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Asset Derivatives</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Liability Derivatives</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 26%; font-size: 10pt; text-align: left">Forward Currency Contract</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 16%; font-size: 10pt; text-align: left">Current liabilities &#x2014; Fair value of derivatives</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">583,368</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Current liabilities &#x2014; Fair value of derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">297,656</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Non current liabilities &#x2014; Fair value of derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,488,706</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt; padding-left: 10pt; text-indent: -10pt">Total derivatives not designated as hedging instruments</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,072,074</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">297,656</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock', window );">Derivative Instruments, Gain (Loss) [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year Ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives not designated as hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Location&nbsp;of&nbsp;Gain/(Loss)&nbsp;Recognized</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 36%; font-size: 10pt; text-align: left">Interest Rate Swap &#x2014; Reclassification from OCI</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">67,849</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">(49,471</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">)</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap &#x2014; Change in Fair Value</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,716,274</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,652,692</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,191,050</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Interest Rate Swap &#x2014; Realized loss </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(2,811,593</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,857,362</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(1,243,359</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Foreign Currency Contract &#x2014; Change in Fair Value </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">Loss on derivatives</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(583,368</td>
       <td style="font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">583,368</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Foreign Currency Contract &#x2014; Realized loss.. </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Loss on derivatives</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(510,875</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(669,712</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total loss on derivatives </td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(27,470</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(1,348,384</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(138,653</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year Ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Derivatives designated as hedging instruments</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: center">Location&nbsp;of&nbsp; Loss&nbsp;Recognized</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 36%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt">Interest Rate Swap &#x2014; Loss reclassified from OCI (Effective portion)</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 14%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Loss on derivatives</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 2%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(231,931</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total loss on derivatives</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(231,931</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock', window );">Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Unrealized Gain / (Loss) on cash flow hedges</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 84%; font-size: 10pt; text-align: left">Balance, January 1, 2013</td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 12%; font-size: 10pt; text-align: right">18,378</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Reclassification adjustment</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(67,849</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Balance, December 31, 2013</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(49,471</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Effective portion of changes in fair value of interest swap contracts</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(293,020</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Reclassification adjustment</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">49,471</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Balance, December 31, 2014</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">(293,020</td>
       <td style="font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Effective portion of changes in fair value of interest swap contracts</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(100,268</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-style: normal; text-align: left; padding-bottom: 2.25pt">Balance, December 31, 2015<font style="font-size: 10pt; font-style: normal"><b>&nbsp;</b></font></td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(393,288</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs<br /> (Level 3)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Liabilities:</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="width: 48%; font-size: 10pt; text-align: left">Foreign Currency Contract</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">(583,368</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">)</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">(583,368</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">)</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(1,873,295</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(1,873,295</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(2,456,663</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(2,456,663</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2015</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs<br /> (Level 3)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Assets/(Liabilities):</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="width: 48%; font-size: 10pt; text-align: left">Interest Rate Swap Agreements</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">127,555</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">127,555</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Interest Rate Swap Agreements</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(978,853</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(978,853</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(851,298</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(851,298</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonRecurringBasisTableTextBlock', window );">Schedule of Fair Value, Assets and Liabilities Measured on Non-recurring Basis [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs <br /> (Level 3)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Impairment Loss</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Long-lived assets held and used</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,977,051</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">1,977,051</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(6,168,747</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,977,051</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">1,977,051</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(6,168,747</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value Measurements Using</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1.1pt solid">Description</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Fair Value as of December&nbsp;31, 2015</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Quoted&nbsp;Prices in Active Markets for Identical Assets <br /> (Level 1)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Other Observable Inputs <br /> (Level 2)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Significant Unobservable Inputs <br /> (Level 3)</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Impairment Loss</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 40%; font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Long-lived assets held and used</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">7,589,921</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">7,589,921</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 9%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">(8,238,987</td>
       <td style="width: 1%; border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">)</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Total</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">7,589,921</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">7,589,921</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#x2014;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(8,238,987</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td>
      </tr>

    </table><span></span>
</td>
</tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of accumulated other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Equity Compensation Plan (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Weighted&nbsp;average&nbsp;grant<br /> date fair&nbsp;value per<br /> non-vested share</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the changes in outstanding nonvested restricted stock units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6608791184">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Earnings Per Share (Tables)<br></strong></div></th>
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       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="width: 61%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">Net income </font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,217,193</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,685,826</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2,566,678</font></td>
       <td style="width: 1%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Less: Undistributed earnings allocated to non-vested shares </font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(55,958</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(26,357</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">(13,457</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">)</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Net income attributable to common shareholders, basic </font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">21,161,235</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">12,659,469</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2,553,221</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt"><font style="font-size: 10pt">Denominator</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; padding-bottom: 1.1pt; padding-left: 10pt; text-indent: -10pt"><font style="font-size: 10pt">Weighted average number of shares outstanding, basic and diluted </font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">28,271,746</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">39,305,644</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right"><font style="font-size: 10pt">41,315,127</font></td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: right"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 1pt; text-align: left"><font style="font-size: 10pt">&nbsp;</font></td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Earnings per share, basic and diluted </font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">0.75</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">0.32</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
       <td style="font-size: 10pt; text-align: right; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">0.06</font></td>
       <td style="font-size: 10pt; text-align: left; border-bottom: Black 1.1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6613738544">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year ended December&nbsp;31,</td>
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       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Voyage Expenses</td>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
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       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
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      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 61%; font-size: 10pt; text-align: left">Port expenses </td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">2,067,494</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">2,278,961</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">3,960,574</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">Bunkers </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">8,347,130</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7,553,318</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">8,566,490</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">Commissions </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">3,244,939</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">3,725,645</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">4,112,177</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Other voyage expenses </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">643,067</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">529,587</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">936,297</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">14,302,630</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">14,087,511</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">17,575,538</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsOperatingExpensesTableTextBlock', window );">Vessels' Operating Expenses [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Year ended December&nbsp;31,</td>
      </tr>
      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid">Vessels&#x2019; Operating Expenses</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2013</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2014</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">2015</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 61%; font-size: 10pt; text-align: left">Crew wages and related costs </td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">22,138,595</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">26,378,730</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 10%; font-size: 10pt; text-align: right">31,391,419</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">Insurance </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">1,667,915</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,028,142</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">2,415,028</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">Repairs and maintenance </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">4,243,133</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,194,476</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,091,916</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left">Spares and consumable stores </td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">5,757,455</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7,120,974</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">7,978,592</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">Miscellaneous expenses </td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">2,716,455</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">4,713,014</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; padding-bottom: 1.1pt">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">3,777,670</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
       <td style="font-size: 1pt; text-align: right">&nbsp;</td>
       <td style="font-size: 1pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Total </td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">36,523,553</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">45,435,336</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">50,654,625</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752231168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Commitments and Contingencies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermPurchaseCommitmentTextBlock', window );">Long-term Purchase Commitment [Table Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 70%">

      <tr style="vertical-align: bottom">
       <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1.1pt solid; text-align: left">December 31</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.1pt">&nbsp;</td>
       <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid">Amount</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="width: 80%; font-size: 10pt; text-align: left">2016 </td>
       <td style="width: 2%; font-size: 10pt">&nbsp;</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="width: 16%; font-size: 10pt; text-align: right">62,365,151</td>
       <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td>
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      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; text-align: left; padding-bottom: 1.1pt">2017 </td>
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       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: right">145,824,000</td>
       <td style="border-bottom: Black 1.1pt solid; font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; text-align: right">&nbsp;</td>
       <td style="font-size: 10pt; text-align: left">&nbsp;</td>
      </tr>
      <tr style="vertical-align: bottom; background-color: White">
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt; text-align: left">&nbsp;</td>
       <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">208,189,151</td>
       <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td>
      </tr>

    </table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of key provisions of an arrangement under which the entity has agreed to purchase goods or services over a period of time greater than one year or the normal operating cycle, if longer, including the item for which expenditures will be made, minimum quantities, milestones, time period and committed amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermPurchaseCommitmentTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755246560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Basis of Presentation and General Information (Details) - Charterers Percentage of Revenue<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=gass_ChartererAMember', window );">Charterer A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EntityWideRevenueMajorCustomerLineItems', window );"><strong>Revenue, Major Customer [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="nump">13.00%<span></span>
</td>
<td class="nump">13.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=gass_ChartererBMember', window );">Charterer B [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EntityWideRevenueMajorCustomerLineItems', window );"><strong>Revenue, Major Customer [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6351-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6404-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EntityWideRevenueMajorCustomerLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EntityWideRevenueMajorCustomerLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=gass_ChartererBMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754362208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Significant Accounting Policies (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Note 2 - Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for Doubtful Accounts Receivable, Current</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue', window );">Impairment of Assets, Annual Increase in Undiscounted Cash Flows to Determine Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue', window );">Impairment of Assets, Inflation Rate for Operating Expenses Used to Determine Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment of Long-Lived Assets Held-for-use</a></td>
<td class="nump">$ 6,775,416<span></span>
</td>
<td class="nump">$ 8,238,987<span></span>
</td>
<td class="nump">6,168,747<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent', window );">Disposal Group, Including Discontinued Operation, Assets, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfReportableSegments', window );">Number of Reportable Segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreationDateAxis=gass_December312014Member', window );">December 31, 2014 [Member] | Reduction in Deferred Finance Charges [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Note 2 - Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustment', window );">Prior Period Reclassification Adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,521,543<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreationDateAxis=gass_December312014Member', window );">December 31, 2014 [Member] | Reduction in Long-term Debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Note 2 - Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustment', window );">Prior Period Reclassification Adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,032,992<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreationDateAxis=gass_December312014Member', window );">December 31, 2014 [Member] | Reduction in Current Portion of Long-term Debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Note 2 - Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustment', window );">Prior Period Reclassification Adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 488,551<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGMember', window );">LPG [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Note 2 - Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives', window );">Property, Plant and Equipment, Estimated Useful Lives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">30 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_ProductCarriersMember', window );">Product Carriers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Note 2 - Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives', window );">Property, Plant and Equipment, Estimated Useful Lives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">25 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>With regard to undiscounted cash flows, this element represents the percentage annual increase in historical average rates that is used in determining the estimates (when there is no charter in place) of the fair value of long-term assets for impairment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ImpairmentOfAssetsAnnualIncreaseInUndiscountedCashFlowsToDetermineFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>With regard to undiscounted cash flows, this element represents the annual inflation rate percentage for operating expenses that is used in determining the estimates of the fair value of long-term assets for impairment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ImpairmentOfAssetsInflationRateForOperatingExpensesUsedToDetermineFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note2SignificantAccountingPoliciesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note2SignificantAccountingPoliciesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=51716988&amp;loc=d3e1107-107759<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=51716988&amp;loc=SL51721533-107759<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2941-110230<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5B<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721673-107760<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2473-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfReportableSegments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfReportableSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PriorPeriodReclassificationAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a reclassification adjustment made to prior period financial statement amounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PriorPeriodReclassificationAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 35<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51661791&amp;loc=d3e1205-110223<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreationDateAxis=gass_December312014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreationDateAxis=gass_December312014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementEarlyAdoptionAxis=gass_ReductionInDeferredFinanceChargesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementEarlyAdoptionAxis=gass_ReductionInDeferredFinanceChargesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementEarlyAdoptionAxis=gass_ReductionInLongTermDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementEarlyAdoptionAxis=gass_ReductionInLongTermDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementEarlyAdoptionAxis=gass_ReductionInCurrentPortionOfLongTermDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementEarlyAdoptionAxis=gass_ReductionInCurrentPortionOfLongTermDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_ProductCarriersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_ProductCarriersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827912304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Transactions with Related Parties (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May. 26, 2014 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Sep. 28, 2012</div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 22, 2012 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ManagementFeePerDayPerVessel', window );">Management Fee Per Day Per Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 440<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ManagementFeePerDayPerVesselUnderBareboatCharter', window );">Management Fee Per Day Per Vessel Under Bareboat Charter</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselBrokerageCommissionPercentage', window );">Vessel Brokerage Commission Pecentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.25%<span></span>
</td>
<td class="nump">1.25%<span></span>
</td>
<td class="nump">1.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselBrokerageCommission', window );">Vessel Brokerage Commission</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,725,683<span></span>
</td>
<td class="nump">$ 1,613,421<span></span>
</td>
<td class="nump">$ 1,482,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Professional and Contract Services Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,452,145<span></span>
</td>
<td class="nump">$ 5,501,675<span></span>
</td>
<td class="nump">4,807,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SalesAndPurchaseBrokerCommissionFeePercentage', window );">Sales and Purchase Broker Commission Fee Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SalesandPurchaseBrokerCommissionFee', window );">Salesand Purchase Broker Commission Fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,925,563<span></span>
</td>
<td class="nump">$ 984,355<span></span>
</td>
<td class="nump">723,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and Administrative Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,655,316<span></span>
</td>
<td class="nump">3,150,929<span></span>
</td>
<td class="nump">2,816,397<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to Related Parties, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,188,852<span></span>
</td>
<td class="nump">4,941,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related Party Transaction, Amounts of Transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,932,042<span></span>
</td>
<td class="nump">3,932,352<span></span>
</td>
<td class="nump">3,933,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Revenue from Related Parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,814,000<span></span>
</td>
<td class="nump">9,814,000<span></span>
</td>
<td class="nump">9,814,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember', window );">Additional Charge Per Day For Superintendent Engineers Onboard The Vessel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Related Party Transaction, Expenses from Transactions with Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=gass_SuperintendentFeesMember', window );">Superintendent Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Related Party Transaction, Expenses from Transactions with Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">245,000<span></span>
</td>
<td class="nump">167,000<span></span>
</td>
<td class="nump">151,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=gass_CommissionExpensesMember', window );">Commission Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NetGainLossOnSaleVessels', window );">Net (Gain) Loss on Sale of Vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,177<span></span>
</td>
<td class="nump">285,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=gass_VesselsOperatingExpensesMember', window );">Vessels' Operating Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related Party Transaction, Amounts of Transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">228,494<span></span>
</td>
<td class="nump">332,970<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_ReimbursedManagerCompensationMember', window );">Reimbursed Compensation Manager [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and Administrative Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,077,698<span></span>
</td>
<td class="nump">1,317,237<span></span>
</td>
<td class="nump">1,245,766<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_OfficeSpaceRentMember', window );">Office Space Rent [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related Party Transaction, Amounts of Transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">72,753<span></span>
</td>
<td class="nump">76,788<span></span>
</td>
<td class="nump">78,070<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_EmiharPetroleumIncMember', window );">Emihar Petroleum Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Revenue from Related Parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,814,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_AffiliatedCompanyMember', window );">Affiliated Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselPurchasePrice', window );">Vessel Purchase Price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 96,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions', window );">Advances Percentage For Vessels Under Construction Acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_AffiliatedCompanyMember', window );">Affiliated Company [Member] | Collection of Advance Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties', window );">Proceeds from Collection of Long-term Loans to Related Parties</a></td>
<td class="nump">$ 10,044,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember', window );">Brave [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_RelatedPartyTransactionVesselConstructionFeePerVessel', window );">Related Party Transaction, Vessel Construction Fee, Per Vessel (in Euro) | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 390,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember', window );">Brave [Member] | Capitalized Construction Supervision Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems', window );"><strong>Note 3 - Transactions with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related Party Transaction, Amounts of Transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,726,265<span></span>
</td>
<td class="nump">$ 984,204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advances Percentage For Vessels Under Construction Acquisitions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_AdvancesPercentageForVesselsUnderConstructionAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ManagementFeePerDayPerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fixed management fee per day per vessel for vessels under time or voyage charters.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ManagementFeePerDayPerVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ManagementFeePerDayPerVesselUnderBareboatCharter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fixed management fee per day per vessel for vessels under bareboat charters.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ManagementFeePerDayPerVesselUnderBareboatCharter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_NetGainLossOnSaleVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net (gain)/loss on sale of vessels</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_NetGainLossOnSaleVessels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note3TransactionswithRelatedPartiesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note3TransactionswithRelatedPartiesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_RelatedPartyTransactionVesselConstructionFeePerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In the context of an agreement with a related party, this element represents the fixed fee per vessel for the construction of vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_RelatedPartyTransactionVesselConstructionFeePerVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SalesAndPurchaseBrokerCommissionFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sales and Purchase Broker Commission Fee Percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SalesAndPurchaseBrokerCommissionFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SalesandPurchaseBrokerCommissionFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SalesandPurchaseBrokerCommissionFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselBrokerageCommission">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Voyage Expenses paid to related parties consisting of commissions on charter hire agreements, which are paid for by the company, regardless of the charter type.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselBrokerageCommission</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselBrokerageCommissionPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the commission as a percentage paid to Managers on charter hire agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselBrokerageCommissionPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselPurchasePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Vessel Purchase Price</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselPurchasePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with collection, whether partial or full, of long-term loans to a related party. Alternate caption: Proceeds from Advances to Affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of transactions with related party during the financial reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAmountsOfTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=gass_AdditionalChargePerDayForSuperintendentEngineersOnboardTheVesselMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=gass_SuperintendentFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=gass_SuperintendentFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=gass_CommissionExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=gass_CommissionExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=gass_VesselsOperatingExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=gass_VesselsOperatingExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_ReimbursedManagerCompensationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_ReimbursedManagerCompensationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_OfficeSpaceRentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_OfficeSpaceRentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_EmiharPetroleumIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_EmiharPetroleumIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_AffiliatedCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_AffiliatedCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=gass_CollectionOfAdvancePaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=gass_CollectionOfAdvancePaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=gass_CapitalizedConstructionSupervisionFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=gass_CapitalizedConstructionSupervisionFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754328800">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 4 - Inventories (Details) - Inventory - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_InventoryAbstract', window );"><strong>Inventory [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_InventoriesBunkers', window );">Bunkers</a></td>
<td class="nump">$ 1,116,604<span></span>
</td>
<td class="nump">$ 1,426,838<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_InventoryLubricants', window );">Lubricants</a></td>
<td class="nump">1,799,650<span></span>
</td>
<td class="nump">1,531,828<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Total</a></td>
<td class="nump">$ 2,916,254<span></span>
</td>
<td class="nump">$ 2,958,666<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_InventoriesBunkers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (lower of cost or market) as of the balance sheet date of inventories of bunkers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_InventoriesBunkers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_InventoryAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_InventoryAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_InventoryLubricants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (lower of cost or market) as of the balance sheet date of inventories of lubricants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_InventoryLubricants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754285776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems', window );"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitions', window );">(in Dollars)</a></td>
<td class="nump">$ 44,031,882<span></span>
</td>
<td class="nump">$ 88,965,085<span></span>
</td>
<td class="nump">$ 70,577,435<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGCarriersContractedIn2012FromSellerMember', window );">LPG Carriers Contracted in 2012 from Seller [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems', window );"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NumberOfVesselsUnderConstruction', window );">Number of Vessels Under Construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGCarriersContractedIn2013FromSellerMember', window );">LPG Carriers Contracted in 2013 from Seller [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems', window );"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NumberOfVesselsUnderConstruction', window );">Number of Vessels Under Construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGCarriersContractedIn2013FromShipBuilderMember', window );">LPG Carriers Contracted in 2013 from Ship-Builder [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems', window );"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NumberOfVesselsUnderConstruction', window );">Number of Vessels Under Construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems', window );"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NumberOfVesselsUnderConstruction', window );">Number of Vessels Under Construction</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_LPGCarriersContractedIn2014FromSellersMember', window );">LPG Carriers Contracted in 2014 from Sellers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note5AdvancesforVesselsUnderConstructionandAcquisitionsDetailsLineItems', window );"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NumberOfVesselsUnderConstruction', window );">Number of Vessels Under Construction</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">1<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advance payments to ship-builders for vessels under construction or payments to sellers for new vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of Vessels Under Construction</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755709168">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Advances for Vessels Under Construction and Acquisitions (Details) - Advances for Vessels Under Construction and Acquisitions - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract', window );"><strong>Advances For Vessels Under Construction And Acquisitions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitions', window );">Balance, December 31</a></td>
<td class="nump">$ 88,965,085<span></span>
</td>
<td class="nump">$ 70,577,435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAcquisitions', window );">Advances for vessels under construction</a></td>
<td class="nump">148,318,231<span></span>
</td>
<td class="nump">124,973,343<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Capitalized interest</a></td>
<td class="nump">1,822,443<span></span>
</td>
<td class="nump">2,113,297<span></span>
</td>
<td class="nump">$ 819,296<span></span>
</td>
</tr>
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<td class="nump">5,085,534<span></span>
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<td class="nump">2,805,342<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsDelivered', window );">Vessels delivered</a></td>
<td class="num">(200,159,411)<span></span>
</td>
<td class="num">(101,459,533)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsCancelled', window );">Vessels cancelled (Note 3)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,044,799)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitions', window );">Balance, December 31</a></td>
<td class="nump">$ 44,031,882<span></span>
</td>
<td class="nump">$ 88,965,085<span></span>
</td>
<td class="nump">$ 70,577,435<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advance payments to ship-builders for vessels under construction or payments to sellers for new vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advance payments to ship-builders for vessels under construction or payments to sellers for new vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_AdvancesForVesselsUnderConstructionAndAcquisitionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_CapitalizedExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other capitalized costs incurred during the construction period and before a vessel is acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CapitalizedExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselsCancelled">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the book value including capitalized expenses of vessels that were cancelled by the Company during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselsCancelled</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselsDelivered">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the book value including capitalized expenses of vessels that were delivered to the Company during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselsDelivered</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestCostsCapitalized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest capitalized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Allowance for Funds Used during Construction<br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestCostsCapitalized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755506544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Vessels, Net (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Nov. 20, 2015</div></th>
<th class="th"><div>Mar. 12, 2015</div></th>
<th class="th"><div>Dec. 15, 2014</div></th>
<th class="th"><div>Nov. 14, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment of Long-Lived Assets Held-for-use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,775,416<span></span>
</td>
<td class="nump">$ 8,238,987<span></span>
</td>
<td class="nump">$ 6,168,747<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure', window );">Assets Held-for-sale, Long Lived, Fair Value Disclosure</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasPremiershipMember', window );">Gas Premiership [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration', window );">Disposal Group, Including Discontinued Operation, Consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,500,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasCatharMember', window );">Gas Cathar [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration', window );">Disposal Group, Including Discontinued Operation, Consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasPremiershipAndGasCatharMember', window );">Gas Premiership and Gas Cathar [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SaleLeasebackTransactionTermOfLease', window );">Sale Leaseback Transaction, Term of Lease</a></td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_TheGasKaizenAndTheGasCrystalVesselsMember', window );">The Gas Kaizen and the Gas Crystal Vessels [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration', window );">Disposal Group, Including Discontinued Operation, Consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,054,156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasArcticMember', window );">Gas Arctic [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration', window );">Disposal Group, Including Discontinued Operation, Consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 950,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_RemainingVesselsMember', window );">Remaining Vessels [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note6VesselsNetDetailsLineItems', window );"><strong>Note 6 - Vessels, Net (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment of Long-Lived Assets Held-for-use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,463,571<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note6VesselsNetDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note6VesselsNetDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SaleLeasebackTransactionTermOfLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the term of the lease under a sale leaseback transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SaleLeasebackTransactionTermOfLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of assets classified as held for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasPremiershipMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasPremiershipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasCatharMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasCatharMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasPremiershipAndGasCatharMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasPremiershipAndGasCatharMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_TheGasKaizenAndTheGasCrystalVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_TheGasKaizenAndTheGasCrystalVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasArcticMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gass_GasArcticMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_RemainingVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_RemainingVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755336448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Vessels, Net (Details) - Summary of Vessels, Net - USD ($)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SummaryOfVesselsNetAbstract', window );"><strong>Summary of Vessels, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Balance, December 31</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 895,387,989<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 849,452,594<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Balance, December 31</a></td>
<td class="num">$ (201,940,961)<span></span>
</td>
<td class="num">(201,940,961)<span></span>
</td>
<td class="num">$ (184,035,144)<span></span>
</td>
<td class="num">(172,429,692)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Balance, December 31</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">711,352,845<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">677,022,902<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAdditions', window );">Acquisitions (transfer from Advances for Vessels under Construction)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,159,411<span></span>
</td>
<td class="nump">101,459,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisposals', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,977,051)<span></span>
</td>
<td class="num">(39,075,007)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,925,771<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PropertyPlantAndEquipmentDisposalsNet', window );">Disposals</a></td>
<td class="num">(1,977,051)<span></span>
</td>
<td class="num">(1,977,051)<span></span>
</td>
<td class="num">(27,149,236)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation', window );">Impairement loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(26,190,677)<span></span>
</td>
<td class="num">(16,449,131)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment', window );">Impairement loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,951,690<span></span>
</td>
<td class="nump">10,280,384<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairement loss</a></td>
<td class="num">(6,775,416)<span></span>
</td>
<td class="num">(8,238,987)<span></span>
</td>
<td class="num">(6,168,747)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTransfersAndChanges', window );">Vessel held for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(748,823)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTransfersAndChanges', window );">Vessel held for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(748,823)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets', window );">Depreciation for the year</a></td>
<td class="num">(35,857,507)<span></span>
</td>
<td class="num">(35,857,507)<span></span>
</td>
<td class="num">(33,811,607)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Balance, December 31</a></td>
<td class="nump">1,066,630,849<span></span>
</td>
<td class="nump">1,066,630,849<span></span>
</td>
<td class="nump">895,387,989<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Balance, December 31</a></td>
<td class="nump">$ 864,689,888<span></span>
</td>
<td class="nump">$ 864,689,888<span></span>
</td>
<td class="nump">$ 711,352,845<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in accumulated depreciation, depletion and amortization as a result of the impairment of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_AccumulatedDepreciationDepletionAndAmortizationImpairmentOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the impairment of long-lived assets held for use, before considering the effects on accumulated depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ImpairmentOfLongLivedAssetsHeldForUseBeforeConsideringEffectOnAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_PropertyPlantAndEquipmentDisposalsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents disposals of property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_PropertyPlantAndEquipmentDisposalsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SummaryOfVesselsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SummaryOfVesselsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land or leased assets).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in accumulated depreciation, depletion and amortization as a result of sale or disposal of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of reclassification, impairment, donation, or other change to long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755131008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Deferred Finance Charges (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DeferredFinanceChargesAbstract', window );"><strong>Deferred Finance Charges [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNoncurrentNet', window );">Deferred Finance Costs, Noncurrent, Net</a></td>
<td class="nump">$ 390,000<span></span>
</td>
<td class="nump">$ 1,569,375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsGross', window );">Deferred Finance Costs, Gross</a></td>
<td class="nump">6,343,300<span></span>
</td>
<td class="nump">5,959,350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of Financing Costs</a></td>
<td class="nump">$ 587,157<span></span>
</td>
<td class="nump">$ 656,341<span></span>
</td>
<td class="nump">$ 425,933<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 8<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the amount as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Such amount is before the consideration of accumulated amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of long-term deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754045568">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 8 - Accrued Liabilities (Details) - Accrued Liabilities - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AccruedLiabilitiesAbstract', window );"><strong>Accrued Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Interest on long-term debt</a></td>
<td class="nump">$ 2,536,034<span></span>
</td>
<td class="nump">$ 1,436,466<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Administrative expenses</a></td>
<td class="nump">291,932<span></span>
</td>
<td class="nump">339,778<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselOperatingAndVoyageExpenses', window );">Vessel operating and voyage expenses</a></td>
<td class="nump">2,774,973<span></span>
</td>
<td class="nump">2,126,783<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Total</a></td>
<td class="nump">$ 5,602,939<span></span>
</td>
<td class="nump">$ 3,903,027<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827944736">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 9 - Deferred Income (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note9DeferredIncomeDetailsLineItems', window );"><strong>Note 9 - Deferred Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred Revenue, Current</a></td>
<td class="nump">$ 4,954,193<span></span>
</td>
<td class="nump">$ 6,711,945<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=gass_TimeAndBareboatDeferredRevenueMember', window );">Time and Bareboat Deferred Revenue [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note9DeferredIncomeDetailsLineItems', window );"><strong>Note 9 - Deferred Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred Revenue, Current</a></td>
<td class="nump">$ 5,423,533<span></span>
</td>
<td class="nump">$ 7,064,756<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755903248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Customer Deposits (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 12, 2015</div></th>
<th class="th"><div>Feb. 24, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note10CustomerDepositsDetailsLineItems', window );"><strong>Note 10 - Customer Deposits (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDepositsFromCustomers', window );">Proceeds from Deposits from Customers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,556,700<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=gass_SpikeMember', window );">Spike [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note10CustomerDepositsDetailsLineItems', window );"><strong>Note 10 - Customer Deposits (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDepositsFromCustomers', window );">Proceeds from Deposits from Customers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,820,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=gass_Navig8FaithMember', window );">Navig8 Faith [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note10CustomerDepositsDetailsLineItems', window );"><strong>Note 10 - Customer Deposits (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDepositsFromCustomers', window );">Proceeds from Deposits from Customers</a></td>
<td class="nump">$ 736,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">gass_Note10CustomerDepositsDetailsLineItems</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received from customers for deposits on goods or services during the period; excludes deposits with other institutions and time deposits, which pertain to financial services entities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=gass_SpikeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorCustomersAxis=gass_SpikeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=gass_Navig8FaithMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorCustomersAxis=gass_Navig8FaithMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6836658640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Long-term Debt (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 14, 2015</div></th>
<th class="th"><div>Sep. 03, 2015</div></th>
<th class="th"><div>Aug. 04, 2015</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 07, 2015</div></th>
<th class="th"><div>Apr. 21, 2015</div></th>
<th class="th"><div>Mar. 27, 2015</div></th>
<th class="th"><div>Jan. 08, 2015</div></th>
<th class="th"><div>Oct. 01, 2014</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
<th class="th"><div>Apr. 25, 2014</div></th>
<th class="th"><div>Mar. 31, 2014</div></th>
<th class="th"><div>Dec. 20, 2013</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Jul. 04, 2014</div></th>
<th class="th"><div>Apr. 16, 2014</div></th>
<th class="th"><div>Apr. 14, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 155,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55,943,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_TermLoanFinancialCovenantsCashRequirement', window );">Term Loan Financial Covenants, Cash Requirement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,146,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PercentageOfDividendsPaidToFreeCashFlow', window );">Percentage of Dividends Paid To Free Cash Flow</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtWeightedAverageInterestRate', window );">Debt, Weighted Average Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.67%<span></span>
</td>
<td class="nump">2.28%<span></span>
</td>
<td class="nump">2.23%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Interest Expense, Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,175,944<span></span>
</td>
<td class="nump">$ 8,746,786<span></span>
</td>
<td class="nump">$ 7,997,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Interest Costs Capitalized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,822,443<span></span>
</td>
<td class="nump">$ 2,113,297<span></span>
</td>
<td class="nump">$ 819,296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Long-term Line of Credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_QuarterlyCommitmentFeePercentage', window );">Quarterly Commitment Fee Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=gass_July42014TermLoanMember', window );">July 4, 2014 Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Loans Payable to Bank</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=gass_SecondFacilityAgreeementWithBankMember', window );">Second Facility Agreeement with Bank [Member] | LPG Vessels [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AggregateIndebtedness', window );">Aggregate Indebtedness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,400,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember', window );">First Tranche [Member] | Term Loan Entered Into on December 20, 2013 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember', window );">First Tranche [Member] | Term Loan with Bank, March 24, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember', window );">First Tranche [Member] | July 4, 2014 Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,375,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember', window );">First Tranche [Member] | Term Loan 21 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,350,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember', window );">First Tranche [Member] | Term Loan 19 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="nump">$ 22,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_SecondTrancheMember', window );">Second Tranche [Member] | Term Loan Entered Into on December 20, 2013 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_SecondTrancheMember', window );">Second Tranche [Member] | Term Loan with Bank, March 24, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_SecondTrancheMember', window );">Second Tranche [Member] | July 4, 2014 Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,375,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember', window );">Third Tranche [Member] | Term Loan with Bank, March 24, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,925,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember', window );">Third Tranche [Member] | First Facility Agreement with a Bank [Member] | LPG Vessels [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TwoOfThreeTranchesMember', window );">Two of Three Tranches [Member] | First Facility Agreement with a Bank [Member] | LPG Vessels [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_EcoInvictusTermLoanMember', window );">Eco Invictus Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan17Member', window );">Term Loan 17 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,925,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,925,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,065,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan2Member', window );">Term Loan 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=gass_LesserOfMember', window );">Lesser of [Member] | Condition Met At Delivery [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 67,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition', window );">Percentage of Fair Market Value of Vessel Subject to the Minimum Employment Condition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=gass_LesserOfMember', window );">Lesser of [Member] | Condition Not Being Met [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 62,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition', window );">Percentage of Fair Market Value of Vessel Subject to the Minimum Employment Condition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Debt Instrument, Basis Spread on Variable Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member] | First Facility Agreement with a Bank [Member] | LPG Vessels [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AggregateIndebtedness', window );">Aggregate Indebtedness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member] | Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ValueToLoanRatio', window );">Value to Loan Ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Debt Instrument, Basis Spread on Variable Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member] | Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ValueToLoanRatio', window );">Value to Loan Ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=gass_NotToExceedMember', window );">Not To Exceed [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets', window );">Percentage of Total Debt To Total Maket Value Adjusted Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=gass_NumeratorMember', window );">Numerator [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsLineItems', window );"><strong>Note 11 - Long-term Debt (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_EBITDAToInterestExpense', window );">EBITDA to Interest Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_EBITDAToInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_EBITDAToInterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note11LongtermDebtDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note11LongtermDebtDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_PercentageOfDividendsPaidToFreeCashFlow">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Free Cash Flow allowed to be paid as dividends under current loan covenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_PercentageOfDividendsPaidToFreeCashFlow</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Fair Market Value of Vessel Subject  to the Minimum Employment Condition</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_PercentageOfFairMarketValueOfVesselSubjectToTheMinimumEmploymentCondition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Total Debt To Total Maket Value Adjusted Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_PercentageOfTotalDebtToTotalMarketValueAdjustedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_QuarterlyCommitmentFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The quarterly commitment fee percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_QuarterlyCommitmentFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_TermLoanFinancialCovenantsCashRequirement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the minimum aggregate cash balance that is required to be maintained under the financial covenants for term loans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_TermLoanFinancialCovenantsCashRequirement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ValueToLoanRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value to Loan Ratio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ValueToLoanRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AggregateIndebtedness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total current liabilities of the broker-dealer, less certain exceptions as defined.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Rule 15c3-1<br> -Number 240<br> -Section 15c3-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AggregateIndebtedness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtWeightedAverageInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average interest rate of debt outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtWeightedAverageInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestCostsCapitalized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest capitalized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Allowance for Funds Used during Construction<br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestCostsCapitalized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the normal operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_July42014TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_July42014TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=gass_SecondFacilityAgreeementWithBankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=gass_SecondFacilityAgreeementWithBankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=gass_LPGVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsAxis=gass_LPGVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_FirstTrancheMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_TermLoanEnteredIntoOnDecember202013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_TermLoanEnteredIntoOnDecember202013Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_TermLoanWithBankMarch242014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_TermLoanWithBankMarch242014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_TermLoan21Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_TermLoan21Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_TermLoan19Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_TermLoan19Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_SecondTrancheMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_SecondTrancheMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=gass_FirstFacilityAgreementWithABankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=gass_FirstFacilityAgreementWithABankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TwoOfThreeTranchesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TwoOfThreeTranchesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_EcoInvictusTermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_EcoInvictusTermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan17Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan17Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=gass_LesserOfMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=gass_LesserOfMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_ConditionMetAtDeliveryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_ConditionMetAtDeliveryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_ConditionNotBeingMetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_ConditionNotBeingMetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=gass_NotToExceedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=gass_NotToExceedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=gass_NumeratorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=gass_NumeratorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827066192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 27, 2015</div></th>
<th class="th"><div>Jan. 08, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 424,660,265<span></span>
</td>
<td class="nump">$ 325,503,853<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">155,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(55,943,588)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges', window );">Current portion of long-term debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75,546,625<span></span>
</td>
<td class="nump">42,614,213<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_LongTermDebtNonCurrentBeforeFinancingCharges', window );">Long term debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">349,113,640<span></span>
</td>
<td class="nump">282,889,640<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_LongTermDebtBeforeDeferredFinancingCharges', window );">Total debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">424,660,265<span></span>
</td>
<td class="nump">325,503,853<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsCurrentNet', window );">Current portion of deferred finance charges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">618,174<span></span>
</td>
<td class="nump">488,551<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNoncurrentNet', window );">Deferred finance charges non-current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">390,000<span></span>
</td>
<td class="nump">1,569,375<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Total deferred finance charges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,497,711<span></span>
</td>
<td class="nump">1,521,543<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtLongtermAndShorttermCombinedAmount', window );">Total debt, net of deferred finance charges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">422,162,554<span></span>
</td>
<td class="nump">323,982,310<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Less: Current portion of long-term debt, net of current portion of deferred finance charges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74,928,451<span></span>
</td>
<td class="nump">42,125,662<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long term debt, net of deferred finance charges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">347,234,103<span></span>
</td>
<td class="nump">281,856,648<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan1Member', window );">Term Loan 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,067,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,787,030<span></span>
</td>
<td class="nump">13,816,882<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (5,029,852)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep.  09,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan2Member', window );">Term Loan 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,850,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="num">$ (13,500,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (14,500,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May 30,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan3Member', window );">Term Loan 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,580,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,289,680<span></span>
</td>
<td class="nump">1,763,440<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (473,760)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 28,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan4Member', window );">Term Loan 4 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 49,875,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,496,750<span></span>
</td>
<td class="nump">22,365,764<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (4,869,014)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 21,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan5Member', window );">Term Loan 5 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,375,000<span></span>
</td>
<td class="nump">21,875,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,500,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Feb. 19,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan6Member', window );">Term Loan 6 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,240,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,667,000<span></span>
</td>
<td class="nump">21,606,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,939,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov.  04,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan7Member', window );">Term Loan 7 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 29,437,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,870,000<span></span>
</td>
<td class="nump">8,650,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (780,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Oct.  09,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan8Member', window );">Term Loan 8 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 45,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,150,000<span></span>
</td>
<td class="nump">30,550,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,400,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 15,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan10Member', window );">Term Loan 10 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,100,000<span></span>
</td>
<td class="nump">19,300,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,200,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr. 14,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan11Member', window );">Term Loan 11 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 49,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,550,000<span></span>
</td>
<td class="nump">37,850,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,300,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep.  01,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan12Member', window );">Term Loan 12 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 43,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,375,000<span></span>
</td>
<td class="nump">35,375,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,000,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 20,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan13Member', window );">Term Loan 13 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 45,212,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,844,180<span></span>
</td>
<td class="nump">38,896,767<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (5,052,587)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep. 30,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan14Member', window );">Term Loan 14 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50,225,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,445,000<span></span>
</td>
<td class="nump">33,040,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,925,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,520,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 30,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan15Member', window );">Term Loan 15 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,665,000<span></span>
</td>
<td class="nump">12,915,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,000,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr. 16,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan16Member', window );">Term Loan 16 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,120,000<span></span>
</td>
<td class="nump">$ 13,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (880,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Oct.  02,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan17Member', window );">Term Loan 17 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,925,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,860,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,925,000<span></span>
</td>
<td class="nump">20,925,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,065,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan.  08,  2023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan18Member', window );">Term Loan 18 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 67,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (500,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov. 16,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan19Member', window );">Term Loan 19 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 14,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan20Member', window );">Term Loan 20 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,343,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (406,250)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep.  03,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_TermLoan21Member', window );">Term Loan 21 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems', window );"><strong>Note 11 - Long-term Debt (Details) - Summary of Long-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Original Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,350,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,821,875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,350,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (528,125)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul.  07,  2023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_LongTermDebtBeforeDeferredFinancingCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of long term debt before financing charges have been applied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_LongTermDebtBeforeDeferredFinancingCharges</td>
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<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of long term debt before financing charges have been applied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_LongTermDebtCurrentMaturitiesBeforeFinancingCharges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_LongTermDebtNonCurrentBeforeFinancingCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of long term debt before financing charges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_LongTermDebtNonCurrentBeforeFinancingCharges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note11LongtermDebtDetailsSummaryofLongtermDebtLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtLongtermAndShorttermCombinedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the aggregate of total long-term debt, including current maturities and short-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtLongtermAndShorttermCombinedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsCurrentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of current deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsCurrentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNoncurrentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of long-term deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNoncurrentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan5Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan5Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan6Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan7Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan7Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan8Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan8Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan10Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan10Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan11Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan11Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan12Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan12Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan13Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan13Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_TermLoan14Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_TermLoan14Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6756409952">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 11 - Long-term Debt (Details) - Principal Payments - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PrincipalPaymentsAbstract', window );"><strong>Principal Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2016</a></td>
<td class="nump">$ 75,546,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2017</a></td>
<td class="nump">49,251,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2018</a></td>
<td class="nump">58,462,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2019</a></td>
<td class="nump">29,887,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2020</a></td>
<td class="nump">105,420,661<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">Thereafter</a></td>
<td class="nump">106,091,485<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Total</a></td>
<td class="nump">$ 424,660,265<span></span>
</td>
<td class="nump">$ 325,503,853<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6756200560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details)<br> &#165; in Millions</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>JPY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 13, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 22, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 06, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Apr. 10, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Derivative, Notional Amount</a></td>
<td class="nump">$ 92,182,741<span></span>
</td>
<td class="nump">$ 92,182,741<span></span>
</td>
<td class="nump">$ 48,692,694<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeReferenceRateLIBOR', window );">Derivative, Reference Rate LIBOR</a></td>
<td class="nump">0.38%<span></span>
</td>
<td class="nump">0.38%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ForeignCurrencyForwardContractsConvertedAmount', window );">Foreign Currency Forward Contracts Converted, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 400<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI', window );">Derivative Instruments Not Designated as Hedging Instruments, Reclassification from OCI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(49,471)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67,849<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue', window );">Impaired Long-lived Assets, Pre-impairment Carrying Value</a></td>
<td class="nump">$ 15,828,908<span></span>
</td>
<td class="nump">15,828,908<span></span>
</td>
<td class="nump">8,145,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment of Long-Lived Assets Held-for-use</a></td>
<td class="nump">$ 6,775,416<span></span>
</td>
<td class="nump">$ 8,238,987<span></span>
</td>
<td class="nump">$ 6,168,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember', window );">Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Derivative, Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,120,000<span></span>
</td>
<td class="nump">$ 17,553,663<span></span>
</td>
<td class="nump">$ 17,553,663<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Derivative, Number of Instruments Held</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Derivative, Fixed Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.54%<span></span>
</td>
<td class="nump">1.69%<span></span>
</td>
<td class="nump">2.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=gass_Swap1Member', window );">Swap 1 [Member] | Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Derivative, Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,171,875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Derivative, Fixed Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.52%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=gass_Swap2Member', window );">Swap 2 [Member] | Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Derivative, Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,171,875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Derivative, Fixed Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.55%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Designated as Hedging Instrument [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Derivative, Number of Instruments Held</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_InterestRateSwapFixedRate', window );">Interest Rate Swap, Fixed Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.52%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_InterestRateSwapFixedRate', window );">Interest Rate Swap, Fixed Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.73%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the gains or losses transferred from accumulated other comprehensive income (loss) to the statement of income during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DerivativeReferenceRateLIBOR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DerivativeReferenceRateLIBOR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ForeignCurrencyForwardContractsConvertedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of converted foreign currency forward contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ForeignCurrencyForwardContractsConvertedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the carrying value, before being written down to their fair value, of impaired long-lived assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ImpairedLongLivedAssetsPreImpairmentCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_InterestRateSwapFixedRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_InterestRateSwapFixedRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note12DerivativesandFairValueDisclosuresDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_DerivativeNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate notional amount specified by the derivative(s). Expressed as an absolute value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column B<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_DerivativeNotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>invest_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fixed interest rate related to the interest rate derivative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeNumberOfInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of derivative instruments of a particular group held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5580258-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579245-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeNumberOfInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=gass_Swap1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=gass_Swap1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=gass_Swap2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=gass_Swap2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826918816">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Financial Instruments - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Interest Rate Swap Agreements</a></td>
<td class="nump">$ 127,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesNoncurrent', window );">Non-current derivative liabilities</a></td>
<td class="nump">681,197<span></span>
</td>
<td class="nump">$ 1,873,295<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Current derivative liabilities</a></td>
<td class="nump">297,656<span></span>
</td>
<td class="nump">583,368<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Designated as Hedging Instrument [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Total derivative assets</a></td>
<td class="nump">127,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Total derivative liabilitiies</a></td>
<td class="nump">681,197<span></span>
</td>
<td class="nump">384,589<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Interest Rate Swap Agreements</a></td>
<td class="nump">127,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesNoncurrent', window );">Non-current derivative liabilities</a></td>
<td class="nump">681,197<span></span>
</td>
<td class="nump">384,589<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Not Designated as Hedging Instrument [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Total derivative liabilitiies</a></td>
<td class="nump">297,656<span></span>
</td>
<td class="nump">2,072,074<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesNoncurrent', window );">Non-current derivative liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,488,706<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Current derivative liabilities</a></td>
<td class="nump">$ 297,656<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Current derivative liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 583,368<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 55<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=51825145&amp;loc=SL20226008-175313<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilitiesCurrent</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6820639712">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Effect of Derivative Instruments on the Statements of Income - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI', window );">Interest Rate Swap &#8212; Reclassification from OCI</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (49,471)<span></span>
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<td class="nump">$ 67,849<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet', window );">Total loss on derivatives</a></td>
<td class="num">(138,653)<span></span>
</td>
<td class="num">(1,348,384)<span></span>
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<td class="num">(27,470)<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet', window );">Total loss on derivatives</a></td>
<td class="num">(231,931)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=us-gaap_InterestRateSwapMember', window );">Interest Rate Swap [Member] | Other Comprehensive Income (Loss) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI', window );">Interest Rate Swap &#8212; Reclassification from OCI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(49,471)<span></span>
</td>
<td class="nump">67,849<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain', window );">Interest Rate Swap &#8212; Change in Fair Value</a></td>
<td class="nump">1,191,050<span></span>
</td>
<td class="nump">1,652,692<span></span>
</td>
<td class="nump">2,716,274<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss', window );">Interest Rate Swap &#8212; Realized loss</a></td>
<td class="num">(1,243,359)<span></span>
</td>
<td class="num">(1,857,362)<span></span>
</td>
<td class="num">$ (2,811,593)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI', window );">Interest Rate Swap &#8212; Loss reclassified from OCI (Effective portion)</a></td>
<td class="num">(231,931)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=us-gaap_ForeignExchangeFutureMember', window );">Foreign Exchange Future [Member] | Other Comprehensive Income (Loss) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss', window );">Foreign Currency Contract &#8212; Change in Fair Value</a></td>
<td class="nump">583,368<span></span>
</td>
<td class="num">(583,368)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ForeignCurrencyContractRealizedGainLoss', window );">Foreign Currency Contract &#8212; Realized loss..</a></td>
<td class="num">$ (669,712)<span></span>
</td>
<td class="num">$ (510,875)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) on derivative instruments that are designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsGainLossNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the gains or losses transferred from accumulated other comprehensive income (loss) to the statement of income during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DerivativeInstrumentsDesignatedAsHedgingInstrumentsReclassificationFromOCI</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the realized loss on derivative instruments not designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the gains or losses transferred from accumulated other comprehensive income (loss) to the statement of income during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsReclassificationFromOCI</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ForeignCurrencyContractRealizedGainLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the realized gain (loss) on foreign currency contract(s).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ForeignCurrencyContractRealizedGainLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain of derivative instruments not designated or qualifying as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGain</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized loss of derivative instruments not designated or qualifying as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLocationAxis=us-gaap_OtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLocationAxis=us-gaap_OtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=us-gaap_ForeignExchangeFutureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=us-gaap_ForeignExchangeFutureMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6834612656">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Components of Accumulated Other Comprehensive Income /(Loss) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_UnrealizedGainLossOnCashFlowHedgesAbstract', window );"><strong>Unrealized Gain / (Loss) on cash flow hedges</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive</a></td>
<td class="num">$ (293,020)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive</a></td>
<td class="num">(393,288)<span></span>
</td>
<td class="num">$ (293,020)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember', window );">Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_UnrealizedGainLossOnCashFlowHedgesAbstract', window );"><strong>Unrealized Gain / (Loss) on cash flow hedges</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive</a></td>
<td class="num">(293,020)<span></span>
</td>
<td class="num">(49,471)<span></span>
</td>
<td class="nump">$ 18,378<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax', window );">Effective portion of changes in fair value of interest swap contracts</a></td>
<td class="num">(100,268)<span></span>
</td>
<td class="num">(293,020)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax', window );">Reclassification adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,471<span></span>
</td>
<td class="num">(67,849)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive</a></td>
<td class="num">$ (393,288)<span></span>
</td>
<td class="num">$ (293,020)<span></span>
</td>
<td class="num">$ (49,471)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_UnrealizedGainLossOnCashFlowHedgesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_UnrealizedGainLossOnCashFlowHedgesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax, before reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax</td>
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<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6821543248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Fair Value of Assets and Liabilities Measured on a Recurring Basis - Fair Value, Measurements, Recurring [Member] - USD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral', window );">Total</a></td>
<td class="num">$ (851,298)<span></span>
</td>
<td class="num">$ (2,456,663)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeForwardMember', window );">Foreign Exchange Forward [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest Rate Swap Agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(583,368)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember', window );">Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest Rate Swap Agreements</a></td>
<td class="num">(978,853)<span></span>
</td>
<td class="num">(1,873,295)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AssetsLiabilitiesAbstract', window );"><strong>Assets/(Liabilities):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeAssetsAtFairValue', window );">Interest Rate Swap Agreements</a></td>
<td class="nump">127,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral', window );">Total</a></td>
<td class="num">(851,298)<span></span>
</td>
<td class="num">(2,456,663)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Forward [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest Rate Swap Agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(583,368)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest Rate Swap Agreements</a></td>
<td class="num">(978,853)<span></span>
</td>
<td class="num">$ (1,873,295)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_AssetsLiabilitiesAbstract', window );"><strong>Assets/(Liabilities):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeAssetsAtFairValue', window );">Interest Rate Swap Agreements</a></td>
<td class="nump">$ 127,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_AssetsLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after offset of derivative asset, of financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, elected not to be and before offset against a right to receive collateral under a master netting arrangement. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41678-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 55<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=51825145&amp;loc=SL20226006-175313<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 55<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=51825145&amp;loc=SL20226008-175313<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6834618224">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureNonrecurring', window );">Fair value of assets measured on a non-recurring basis</a></td>
<td class="nump">$ 7,589,921<span></span>
</td>
<td class="nump">$ 1,977,051<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Impairment loss on assets measured at fair value on a non-recurring basis</a></td>
<td class="num">(8,238,987)<span></span>
</td>
<td class="num">(6,168,747)<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByAssetClassAxis=gass_LongLivedAssetsHeldAndUsedMember', window );">Long-lived Assets Held and Used [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureNonrecurring', window );">Fair value of assets measured on a non-recurring basis</a></td>
<td class="nump">7,589,921<span></span>
</td>
<td class="nump">1,977,051<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Impairment loss on assets measured at fair value on a non-recurring basis</a></td>
<td class="num">(8,238,987)<span></span>
</td>
<td class="num">(6,168,747)<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureNonrecurring', window );">Fair value of assets measured on a non-recurring basis</a></td>
<td class="nump">7,589,921<span></span>
</td>
<td class="nump">1,977,051<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Long-lived Assets Held and Used [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note12DerivativesandFairValueDisclosuresDetailsValuationofAssetsMeasuredatFairValueOnaNonrecurringBasisLineItems', window );"><strong>Note 12 - Derivatives and Fair Value Disclosures (Details) - Valuation of Assets Measured at Fair Value On a Non-recurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureNonrecurring', window );">Fair value of assets measured on a non-recurring basis</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosureNonrecurring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a nonrecurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosureNonrecurring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByAssetClassAxis=gass_LongLivedAssetsHeldAndUsedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByAssetClassAxis=gass_LongLivedAssetsHeldAndUsedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755032736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Common Stock and Additional Paid-in Capital (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="6">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Aug. 12, 2014</div></th>
<th class="th"><div>May. 07, 2014</div></th>
<th class="th"><div>Feb. 14, 2014</div></th>
<th class="th"><div>Apr. 30, 2013</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
<th class="th"><div>Dec. 31, 2011</div></th>
<th class="th"><div>Dec. 31, 2010</div></th>
<th class="th"><div>Feb. 26, 2015</div></th>
<th class="th"><div>Nov. 26, 2014</div></th>
<th class="th"><div>Mar. 22, 2010</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Stockholders' Equity Note [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramAuthorizedAmount1', window );">Stock Repurchase Program, Authorized Amount (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,000,000<span></span>
</td>
<td class="nump">$ 15,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock Repurchased During Period, Shares (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,372,097<span></span>
</td>
<td class="nump">843,022<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">551,646<span></span>
</td>
<td class="nump">1,205,229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare', window );">Treasury Stock Acquired, Average Cost Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.46<span></span>
</td>
<td class="nump">$ 6.30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.05<span></span>
</td>
<td class="nump">$ 5.21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SharesPublicOffering', window );">Shares Public Offering (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common Stock, Par or Stated Value Per Share</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockPricePerShare', window );">Sale of Stock, Price Per Share</a></td>
<td class="nump">$ 10.00<span></span>
</td>
<td class="nump">$ 10.50<span></span>
</td>
<td class="nump">$ 9.71<span></span>
</td>
<td class="nump">$ 10.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity', window );">Proceeds from Issuance or Sale of Equity (in Dollars)</a></td>
<td class="nump">$ 35,000,000<span></span>
</td>
<td class="nump">$ 47,000,047<span></span>
</td>
<td class="nump">$ 32,999,998<span></span>
</td>
<td class="nump">$ 115,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts', window );">Proceeds From Issuance of Equity, Net of Issuance Costs (in Dollars)</a></td>
<td class="nump">$ 34,071,501<span></span>
</td>
<td class="nump">$ 46,294,133<span></span>
</td>
<td class="nump">$ 31,937,044<span></span>
</td>
<td class="nump">$ 109,119,029<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues (in Shares)</a></td>
<td class="nump">3,500,000<span></span>
</td>
<td class="nump">4,476,195<span></span>
</td>
<td class="nump">3,398,558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_StockRepurchaseProgramAuthorizedAmountAdditional', window );">Stock Repurchase Program, Authorized Amount, Additional (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_ProceedsFromIssuanceOfEquityNetOfIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SharesPublicOffering">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares for public offering.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SharesPublicOffering</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_StockRepurchaseProgramAuthorizedAmountAdditional">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The additional amount allocated to the stock repurchase program of the company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_StockRepurchaseProgramAuthorizedAmountAdditional</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
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<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOrSaleOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockPricePerShare</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stock repurchase plan authorized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityNoteAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total cost of shares repurchased divided by the total number of shares repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockAcquiredAverageCostPerShare</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6756816160">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Equity Compensation Plan (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="7">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Nov. 20, 2014</div></th>
<th class="th"><div>Nov. 22, 2012</div></th>
<th class="th"><div>Nov. 20, 2017</div></th>
<th class="th"><div>Nov. 20, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Nov. 20, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2007</div></th>
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<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,357<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,140,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">357,967<span></span>
</td>
<td class="nump">292,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">441,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 469,623<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year 324 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=gass_ThePlanMember', window );">The Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note14EquityCompensationPlanDetailsLineItems', window );"><strong>Note 14 - Equity Compensation Plan (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_CommonStockReservedPercentage', window );">Common Stock Reserved Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">555,479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=gass_NonVestedRestrictedSharesMember', window );">Non-Vested Restricted Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note14EquityCompensationPlanDetailsLineItems', window );"><strong>Note 14 - Equity Compensation Plan (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares)</a></td>
<td class="nump">230,713<span></span>
</td>
<td class="nump">74,761<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)</a></td>
<td class="nump">$ 7.58<span></span>
</td>
<td class="nump">$ 7.26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,357<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,140,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">357,967<span></span>
</td>
<td class="nump">$ 292,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 681,073<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=gass_NonVestedRestrictedSharesMember', window );">Non-Vested Restricted Shares [Member] | Scenario, Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note14EquityCompensationPlanDetailsLineItems', window );"><strong>Note 14 - Equity Compensation Plan (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57,678<span></span>
</td>
<td class="nump">57,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_CommonStockReservedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of common stock reserved.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_CommonStockReservedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note14EquityCompensationPlanDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note14EquityCompensationPlanDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Dividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 405<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Dividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=gass_ThePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=gass_ThePlanMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=gass_NonVestedRestrictedSharesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember</td>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752457328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Equity Compensation Plan (Details) - Nonvested Restricted Shares<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2015 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NonvestedRestrictedSharesAbstract', window );"><strong>Nonvested Restricted Shares [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Non-vested, January 1, 2015 | shares</a></td>
<td class="nump">230,713<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Non-vested, January 1, 2015 | $ / shares</a></td>
<td class="nump">$ 7.58<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested | shares</a></td>
<td class="nump">115,357<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested | $ / shares</a></td>
<td class="nump">$ 7.58<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Non-vested, December 31, 2015 | shares</a></td>
<td class="nump">115,356<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Non-vested, December 31, 2015 | $ / shares</a></td>
<td class="nump">$ 7.58<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_NonvestedRestrictedSharesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_NonvestedRestrictedSharesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
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<td>na</td>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6618076400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Earnings Per Share (Details) - shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=gass_NonVestedRestrictedSharesMember', window );">Non-Vested Restricted Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note15EarningsPerShareDetailsLineItems', window );"><strong>Note 15 - Earnings Per Share (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</a></td>
<td class="nump">115,356<span></span>
</td>
<td class="nump">230,713<span></span>
</td>
<td class="nump">74,761<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note15EarningsPerShareDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=gass_NonVestedRestrictedSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=gass_NonVestedRestrictedSharesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6815343328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Earnings Per Share (Details) - Basic and Diluted Earnings Per Share Calculation - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_NumeratorAbstract', window );"><strong>Numerator</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 2,566,678<span></span>
</td>
<td class="nump">$ 12,685,826<span></span>
</td>
<td class="nump">$ 21,217,193<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted', window );">Less: Undistributed earnings allocated to non-vested shares</a></td>
<td class="num">(13,457)<span></span>
</td>
<td class="num">(26,357)<span></span>
</td>
<td class="num">(55,958)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income attributable to common shareholders, basic</a></td>
<td class="nump">$ 2,553,221<span></span>
</td>
<td class="nump">$ 12,659,469<span></span>
</td>
<td class="nump">$ 21,161,235<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_DenominatorAbstract', window );"><strong>Denominator</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted average number of shares outstanding, basic and diluted (in Shares)</a></td>
<td class="nump">41,315,127<span></span>
</td>
<td class="nump">39,305,644<span></span>
</td>
<td class="nump">28,271,746<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Earnings per share, basic and diluted (in Dollars per share)</a></td>
<td class="nump">$ 0.06<span></span>
</td>
<td class="nump">$ 0.32<span></span>
</td>
<td class="nump">$ 0.75<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td><strong> Balance Type:</strong></td>
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</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of undistributed earnings (loss) allocated to participating securities for the diluted earnings (loss) per share or per unit calculation under the two-class method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=SL5780133-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6815517136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems', window );"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesIncludingRelatedParty', window );">Voyage expenses</a></td>
<td class="nump">$ 17,575,538<span></span>
</td>
<td class="nump">$ 14,087,511<span></span>
</td>
<td class="nump">$ 14,302,630<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesAxis=gass_PortExpensesMember', window );">Port Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems', window );"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesIncludingRelatedParty', window );">Voyage expenses</a></td>
<td class="nump">3,960,574<span></span>
</td>
<td class="nump">2,278,961<span></span>
</td>
<td class="nump">2,067,494<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesAxis=gass_BunkersMember', window );">Bunkers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems', window );"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesIncludingRelatedParty', window );">Voyage expenses</a></td>
<td class="nump">8,566,490<span></span>
</td>
<td class="nump">7,553,318<span></span>
</td>
<td class="nump">8,347,130<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesAxis=gass_CommissionsMember', window );">Commissions [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems', window );"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesIncludingRelatedParty', window );">Voyage expenses</a></td>
<td class="nump">4,112,177<span></span>
</td>
<td class="nump">3,725,645<span></span>
</td>
<td class="nump">3,244,939<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesAxis=gass_OtherVoyageExpensesMember', window );">Other Voyage Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems', window );"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Voyage Expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VoyageExpensesIncludingRelatedParty', window );">Voyage expenses</a></td>
<td class="nump">$ 936,297<span></span>
</td>
<td class="nump">$ 529,587<span></span>
</td>
<td class="nump">$ 643,067<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note16VoyageExpensesandVesselOperatingExpensesDetailsVoyageExpensesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpensesIncludingRelatedParty</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpensesAxis=gass_PortExpensesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VoyageExpensesAxis=gass_BunkersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpensesAxis=gass_BunkersMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VoyageExpensesAxis=gass_CommissionsMember">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpensesAxis=gass_CommissionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VoyageExpensesAxis=gass_OtherVoyageExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VoyageExpensesAxis=gass_OtherVoyageExpensesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752376048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Voyage Expenses and Vessel Operating Expenses (Details) - Vessels' Operating Expenses - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_VesselsOperatingExpensesAbstract', window );"><strong>Vessels' Operating Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LaborAndRelatedExpense', window );">Crew wages and related costs</a></td>
<td class="nump">$ 31,391,419<span></span>
</td>
<td class="nump">$ 26,378,730<span></span>
</td>
<td class="nump">$ 22,138,595<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralInsuranceExpense', window );">Insurance</a></td>
<td class="nump">2,415,028<span></span>
</td>
<td class="nump">2,028,142<span></span>
</td>
<td class="nump">1,667,915<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_RepairsAndMaintenance', window );">Repairs and maintenance</a></td>
<td class="nump">5,091,916<span></span>
</td>
<td class="nump">5,194,476<span></span>
</td>
<td class="nump">4,243,133<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SparesAndConsumableStores', window );">Spares and consumable stores</a></td>
<td class="nump">7,978,592<span></span>
</td>
<td class="nump">7,120,974<span></span>
</td>
<td class="nump">5,757,455<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCostAndExpenseOperating', window );">Miscellaneous expenses</a></td>
<td class="nump">3,777,670<span></span>
</td>
<td class="nump">4,713,014<span></span>
</td>
<td class="nump">2,716,455<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingCostsAndExpenses', window );">Total</a></td>
<td class="nump">$ 50,654,625<span></span>
</td>
<td class="nump">$ 45,435,336<span></span>
</td>
<td class="nump">$ 36,523,553<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_RepairsAndMaintenance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost of repairs and maintenance during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_RepairsAndMaintenance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SparesAndConsumableStores">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SparesAndConsumableStores</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_VesselsOperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_VesselsOperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralInsuranceExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense in the period incurred with respect to protection provided by insurance entities against risks other than risks associated with production (which are allocated to cost of sales).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralInsuranceExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LaborAndRelatedExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LaborAndRelatedExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingCostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingCostsAndExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCostAndExpenseOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCostAndExpenseOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755652608">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 18 - Commitments and Contingencies (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Aug. 20, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note18CommitmentsandContingenciesDetailsLineItems', window );"><strong>Note 18 - Commitments and Contingencies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_BankGuaranteeToSecureReleaseOfVessel', window );">Bank Guarantee to Secure Release of Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,837,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueOneYearOrLess', window );">Contract Receivable, Due in Next Twelve Months</a></td>
<td class="nump">$ 82,976,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueOneToTwoYears', window );">Contract Receivable, Due in Year Two</a></td>
<td class="nump">41,053,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueTwoToThreeYears', window );">Contract Receivable, Due in Year Three</a></td>
<td class="nump">24,228,368<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueThreeToFourYears', window );">Contract Receivable, Due in Year Four</a></td>
<td class="nump">19,432,253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueFourToFiveYears', window );">Contract Receivable, Due in Year Five</a></td>
<td class="nump">17,677,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_EmiharPetroleumIncMember', window );">Emihar Petroleum Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note18CommitmentsandContingenciesDetailsLineItems', window );"><strong>Note 18 - Commitments and Contingencies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueOneYearOrLess', window );">Contract Receivable, Due in Next Twelve Months</a></td>
<td class="nump">7,412,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractReceivableDueOneToTwoYears', window );">Contract Receivable, Due in Year Two</a></td>
<td class="nump">$ 2,023,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_BankGuaranteeToSecureReleaseOfVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of guarantee made by a bank, lodged to the court, to secure the release of an arrested vessel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_BankGuaranteeToSecureReleaseOfVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note18CommitmentsandContingenciesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note18CommitmentsandContingenciesDetailsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractReceivableDueFourToFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount billed to customers under long-term contracts or programs to be collected in the fifth fiscal year following the latest fiscal year. Excludes amounts due that have been withheld because of retainage provisions in a contract. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 910<br> -SubTopic 310<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51673017&amp;loc=d3e49354-109356<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractReceivableDueFourToFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractReceivableDueOneToTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount billed to customers under long-term contracts or programs to be collected in the second fiscal year following the latest fiscal year. Excludes amounts due that have been withheld because of retainage provisions in a contract. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 910<br> -SubTopic 310<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51673017&amp;loc=d3e49354-109356<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractReceivableDueOneToTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount billed to customers under long-term contracts or programs to be collected in the next fiscal year following the latest fiscal year. Excludes amounts due that have been withheld because of retainage provisions in a contract. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractReceivableDueOneYearOrLess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractReceivableDueThreeToFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount billed to customers under long-term contracts or programs to be collected in the fourth fiscal year following the latest fiscal year. Excludes amounts due that have been withheld because of retainage provisions in a contract. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 910<br> -SubTopic 310<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51673017&amp;loc=d3e49354-109356<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractReceivableDueThreeToFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractReceivableDueTwoToThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount billed to customers under long-term contracts or programs to be collected in the third fiscal year following the latest fiscal year. Excludes amounts due that have been withheld because of retainage provisions in a contract. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 910<br> -SubTopic 310<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51673017&amp;loc=d3e49354-109356<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractReceivableDueTwoToThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_EmiharPetroleumIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_EmiharPetroleumIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752472672">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 18 - Commitments and Contingencies (Details) - Future Outstanding Commitments for Installment Payments<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract', window );"><strong>Future Outstanding Commitments for Installment Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PurchaseObligationDueInNextTwelveMonths', window );">2016</a></td>
<td class="nump">$ 62,365,151<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PurchaseObligationDueInSecondYear', window );">2017</a></td>
<td class="nump">145,824,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PurchaseObligation', window );"></a></td>
<td class="nump">$ 208,189,151<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_FutureOutstandingCommitmentsForInstallmentPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PurchaseObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum amount of purchase arrangement in which the entity has agreed to expend funds to procure goods or services from a supplier.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PurchaseObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PurchaseObligationDueInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum amount of purchase arrangement maturing in the next fiscal year following the latest fiscal year. Includes, but not limited to, recorded and unrecorded purchase obligations, long-term purchase commitments, and short-term purchase commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PurchaseObligationDueInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PurchaseObligationDueInSecondYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum amount of purchase arrangement maturing in the second fiscal year following the latest fiscal year. Includes, but not limited to, recorded and unrecorded purchase obligations, long-term purchase commitments, and short-term purchase commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PurchaseObligationDueInSecondYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755247904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Sale and Leaseback of Vessels (Details) - Gas Premiership and Gas Cathar [Member] - USD ($)<br></strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note19SaleandLeasebackofVesselsDetailsLineItems', window );"><strong>Note 19 - Sale and Leaseback of Vessels (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionDeferredGainGross', window );">Sale Leaseback Transaction, Deferred Gain, Gross</a></td>
<td class="nump">$ 780,695<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 780,695<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_SaleLeasebackTransactionTermOfLease', window );">Sale Leaseback Transaction, Term of Lease</a></td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized', window );">Sale Leaseback Transaction, Current Period Gain Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 195,040<span></span>
</td>
<td class="nump">4,954<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionRentExpense', window );">Sale Leaseback Transaction, Rent Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,320,000<span></span>
</td>
<td class="nump">$ 325,758<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear', window );">Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,320,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears', window );">Minimum Lease Payments, Sale Leaseback Transactions, within Two Years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,320,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears', window );">Minimum Lease Payments, Sale Leaseback Transactions, within Three Years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,008,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note19SaleandLeasebackofVesselsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note19SaleandLeasebackofVesselsDetailsLineItems</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_SaleLeasebackTransactionTermOfLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the term of the lease under a sale leaseback transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_SaleLeasebackTransactionTermOfLease</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for sale-leaseback transactions accounted for using the deposit method or as a financing due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6456377&amp;loc=d3e50824-112756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for sale-leaseback transactions accounted for using the deposit method or as a financing due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6456377&amp;loc=d3e50824-112756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for sale-leaseback transactions accounted for using the deposit method or as a financing due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6456377&amp;loc=d3e50824-112756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of the deferred gain that was recognized in the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35688829&amp;loc=d3e50609-112754<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionDeferredGainGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the gain recorded in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller to be recognized in future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6456126&amp;loc=d3e49567-112750<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionDeferredGainGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionRentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the current period expense recorded for use of the property in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionRentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionDescriptionAxis=gass_GasPremiershipAndGasCatharMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6756750848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Subsequent Events (Details)<br></strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="6">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 24, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 24, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 16, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 05, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May. 26, 2014 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2011 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2010 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 09, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 07, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 155,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock Repurchased During Period, Shares (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,372,097<span></span>
</td>
<td class="nump">843,022<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">551,646<span></span>
</td>
<td class="nump">1,205,229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare', window );">Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.46<span></span>
</td>
<td class="nump">$ 6.30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.05<span></span>
</td>
<td class="nump">$ 5.21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock Repurchased During Period, Shares (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">644,178<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare', window );">Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=gass_March72016TermLoanMember', window );">March 7, 2016 Term Loan [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Loans Payable to Bank</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 76,020,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=gass_March92016TermLoanMember', window );">March 9, 2016 Term Loan [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Loans Payable to Bank</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 74,480,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember', window );">Third Tranche [Member] | Term Loan Entered Into on December 20, 2013 [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from Issuance of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember', window );">Brave [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_RelatedPartyTransactionVesselConstructionFeePerVessel', window );">Related Party Transaction, Vessel Construction Fee, Per Vessel | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 390,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember', window );">Brave [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_RelatedPartyTransactionVesselConstructionFeePerVessel', window );">Related Party Transaction, Vessel Construction Fee, Per Vessel</a></td>
<td class="nump">$ 539,343<span></span>
</td>
<td class="nump">&#8364; 490,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=gass_EcoNicalVesselMember', window );">Eco Nical Vessel [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_Note20SubsequentEventsDetailsLineItems', window );"><strong>Note 20 - Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gass_PaymentInstallmentForVesselDelivery', window );">Payment Installment for Vessel Delivery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,472,151<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_Note20SubsequentEventsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_Note20SubsequentEventsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_PaymentInstallmentForVesselDelivery">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents a delivery installment for vessels delivered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_PaymentInstallmentForVesselDelivery</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gass_RelatedPartyTransactionVesselConstructionFeePerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In the context of an agreement with a related party, this element represents the fixed fee per vessel for the construction of vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">gass_RelatedPartyTransactionVesselConstructionFeePerVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>gass_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the normal operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total cost of shares repurchased divided by the total number of shares repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockAcquiredAverageCostPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_March72016TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_March72016TermLoanMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=gass_March92016TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_March92016TermLoanMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=gass_ThirdTrancheMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=gass_TermLoanEnteredIntoOnDecember202013Member</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=gass_BraveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
	Show.LastAR.style.display = 'none';
};

Show.showAR = function ( link, id, win ){
	if( Show.LastAR ){
		Show.hideAR();
	}

	var ref = link;
	do {
		ref = ref.nextSibling;
	} while (ref && ref.nodeName != 'TABLE');

	if (!ref || ref.nodeName != 'TABLE') {
		var tmp = win ?
			win.document.getElementById(id) :
			document.getElementById(id);

		if( tmp ){
			ref = tmp.cloneNode(true);
			ref.id = '';
			link.parentNode.appendChild(ref);
		}
	}

	if( ref ){
		ref.style.display = 'block';
		Show.LastAR = ref;
	}
};

Show.toggleNext = function( link ){
	var ref = link;

	do{
		ref = ref.nextSibling;
	}while( ref.nodeName != 'DIV' );

	if( ref.style &&
		ref.style.display &&
		ref.style.display == 'none' ){
		ref.style.display = 'block';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '+', '-' );
		}else{
			link.innerText = link.innerText.replace( '+', '-' );
		}
	}else{
		ref.style.display = 'none';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '-', '+' );
		}else{
			link.innerText = link.innerText.replace( '-', '+' );
		}
	}
};
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
