Concordia Maritime Clinches Deal for a P-MAX Tanker

Swedish tanker shipping company Concordia Maritime has inked a new consecutive voyage contact for its Panamax (P-MAX) tanker Stena Polaris with an undisclosed partner said to be a large oil and gas company. 

The contract comes into effect in May 2016, with a duration of one year. Financial details of the contract were not disclosed.

“This is a new niche trade that we have identified together with our customer. The new contract clearly demonstrates that we have found an arrangement that creates value for all parties. The customer has a specific transport need for which the large load capacity of the P-MAX tankers will be well suited,” KIM Ullman, Concordia Maritime’s CEO notes.

The Stena Polaris is a 65,200 dwt vessel built in 2010. With its gross tonnage of 36,000 t, the tanker features a length of 182.9 meters and a width of 40 meters.

The company said that the vessel has been employed on one of the same customer’s niche trades to Australia and New Zealand since 2014. According to the company, the Stena Polaris is to be mainly used to transport light oil products from Singapore to island groups in the Pacific Ocean.

Concordia Maritime’s fleet consists of ten P-MAX tankers, two newly built IMOIIMAX chemical and product tankers, and one suezmax tanker.

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