Concordia Maritime Inks More Charter Contracts

Image Courtesy: Concordia Maritime

Swedish tanker owner Concordia Maritime has agreed more charter deals for Medium Range ECO vessels as it prepares for an expected market upturn.

The company said that, as a part of fleet positioning ahead of the progressively stronger market that is expected, Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year.

Furthermore, the shipowner signed a contract to charter out the P-MAX tanker Stena Performance, which will be used primarily for niche traffic in the Middle East. Concordia Maritime said that the contractual partner is a large global oil company, without revealing any further details.

As with previous charters, these latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent. The vessels will be operated by the MR pool within Stena Bulk Product & Chemicals, formerly Stena Weco.

The contract for Stena Performance is for six months, with an option for a further six months, and runs from January 2018.

“We are acting based on our firm belief in a progressively stronger market from summer 2018 onwards. By chartering in a total of six vessels (50% each), we have now increased earning capacity significantly in a short period,” Kim Ullman, CEO of Concordia Maritime, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 1 2 3 4

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

APM - ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >