$impp~~~~~~~We plan to expand our fleet by investing in vessels, which may include vessels in other seaborne transportation sectors in addition to the product and crude tanker sectors, under favorable market conditions; and, as described above, have recently entered into agreements to acquire two MR product tankers, one of which was delivered to us on March 28, 2022. We also intend to take advantage of the cyclical nature of the market by buying and selling ships when we believe favorable opportunities exist. We will deploy our fleet on a mix of period charters, including time and bareboat charters which can last up to several years, and spot market charters, which generally last from one to six months, according to our assessment of market conditions.
As of May 1, 2022, four of our tanker vessels were employed under a time charter or a bareboat contract, and one of our product tankers was operating in the spot market. As of April 1, 2022, approximately 40% of the remaining ship capacity days in 2022 for the five vessels in our current fleet is under contract.
The Vafias family, of which our President and Chief Executive Officer, Harry Vafias, is a member, is one of our largest stockholders. The Vafias family has been active in shipping for over 40 years. The Vafias family formed Stealth Maritime Corporation S.A. (“Stealth Maritime”) in 1999, which, as our fleet manager, is responsible for all aspects
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