Concordia Maritime and Stena Bulk have launched a pool of four P-MAX tankers for a period of one year.
The pool will include Stena Perros and Stena President, for which the companies previously signed time-charters, as well as Stena Penguin and Stena Primorsk.
The four tankers will transport heavy petroleum products, primarily in the Atlantic market.
“We are very pleased with the agreement and still believe in a stronger market in 2015, but we also want to balance our spot market exposure. At the same time, this allows us to fully leverage the operational expertise that Stena Bulk has amassed over time in this market”, said Kim Ullman, CEO of Concordia Maritime.
Stena Perros, Stena President, Stena Penguin and Stena Primorsk are four of the ten P-MAX vessels included in Concordia Maritime’s fleet. The tankers were constructed at the Brodosplit Shipyard in Split, Croatia, in 2008, 2007, 2010 and 2006, respectively.
Tankers with the P-MAX design have a double hull, two machine rooms with full water and fire integrity, as well as two separate propulsion systems. Maneuverability and an integrated bridge layout are also critical to facilitating safe navigation in narrow channels. A significantly wider hull also provides substantial cargo flexibility and increases cargo capacity by 30 percent, according to Concordia.