GÖTEBORG, Sweden,
Dec. 12, 2017 /PRNewswire/ --
Concordia Maritime has signed a contract to charter in another
IMO2/3 class MR tanker. The contract, which runs from the end of
January, is for two years with multiple options to extend. In
parallel, the MR tanker whose charter contract expired in November
is also having its charter extended for minimum a further
year.
The newly chartered vessel is under construction and will be
delivered from the shipyard in January
2018. This contract, as well as the extension, is a joint
charter with Stena Bulk, and Concordia Maritime's share amounts to
50 percent. Both vessels will be operated by the successful MR pool
within Stena Bulk Product & Chemicals (formerly Stena
Weco).
"Together with the vessels we chartered in this summer, these
contracts should be seen as a clear sign of our view of the market
in the period ahead. After a period of weak markets, we expect a
gradually stronger and more balanced market from mid-2018. The main
drivers include reduced inventory levels, which will result in
increased demand for oil transportation. The situation on the
supply side is also beginning to look better. The order book is
relatively low and net growth in new MR vessels is only expected to
be about 2 percent in 2018," says Kim
Ullman, CEO of Concordia Maritime.
With immediate effect, Concordia Maritime will provide a
continuous view of tanker market developments – for the previous
month, but also looking ahead. The comments will be published on
concordiamaritime.se.
CONTACT:
Kim Ullman
CEO
Concordia Maritime AB
Tel +46-31855003
Mobile +46-704855003
Email kim.ullman@concordiamaritime.com
Ola Helgesson
CFO
Concordia Maritime AB
Tel +46-31-855009
Mobile +46-704-855009
Email ola.helgesson@concordiamaritime.com
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/concordia-maritime/r/continuing-investments-in-the-product-tanker-segment--positioning-for-the-expected-stronger-market,c2411914
The following files are available for download:
http://mb.cision.com/Main/1948/2411914/765557.pdf
|
PDF
|
View original
content:http://www.prnewswire.com/news-releases/concordia-maritime-continuing-investments-in-the-product-tanker-segment---positioning-for-the-expected-stronger-market-300569952.html
SOURCE Concordia Maritime