rss icon Subscribe
desktop mobile

Concordia Maritime Charters Two More MR Vessels

Image: Concordia Maritime

By Aiswarya Lakshmi

Swedish tanker owner 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.

A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East.
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 successful 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.
Kim Ullman, CEO of Concordia Maritime said: "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. At the same time, we continue our efforts to identify niche trades for our P-MAX vessels, where their unique properties are particularly beneficial."
"The new P-MAX contract is a good example of this. For our part, the contract means that we secure employment for the vessel for six months ahead, at a level clearly above the market and standard vessels," Kim added.

Jan 10, 2018

 

Contracts

Japanese LNG Carriers Pact with Wärtsilä

Wärtsilä’s long-term service agreements play an important role in maintaining optimal performance for vessels of all kinds. Copyright: JERA/NYK

Finnish technology group Wärtsilä has signed long-term service agreements for four Japanese-owned

Teekay Offshore Renews and Expands VSAT

Photo courtesy of Marlink

Teekay Offshore, one of the largest marine energy transportation, storage & production companies

Griffon Hoverwork Wins New Orders

Photo: Griffon Hoverwork

Southampton, UK-based hovercraft builder Griffon Hoverwork has won two new orders for its latest

Logistics

Adani to Develop Container Port in Myanmar

Pic: Adani Ports

India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set

Star Bulk Carriers Reports Q1 Loss

Pic: Star Bulk Carriers Corp.

Greek shipping company Star Bulk Carriers Corp reported a net loss of $5.3 million, or $0.

Peel Ports Acquires Quality Freight

Mark Whitworth. Photo: Peel Ports Group

Peel Ports Group has announced that it has acquired Quality Freight (UK) Limited, which provides

Maritime Apps