GÖTEBORG, Sweden, July 25, 2018 /PRNewswire/ -- By chartering in
another modern suezmax vessel, Concordia Maritime continues to
strengthen its positions in the crude oil tanker segment. In
parallel, the contract to charter out the P-MAX tanker
Stena Paris is being
extended for the sixth consecutive year.
The 158,000 dwt suezmax vessel that has been chartered in was
built in Korea in 2015. The contract is for 12 months. With effect
from July, the vessel will be employed on the spot market through
the successful Stena Sonangol Suezmax Pool. As with previous
charters, this is a joint charter with Stena Bulk, and Concordia
Maritime's share amounts to 50 percent.
"We continue to act based on our belief in a progressively
stronger market from autumn 2018 onwards, and we have now brought
in a total of four suezmax vessels on 50 percent charters. We have
increased our earning capacity through the contracts, and the weak
market has enabled us to enter into the contracts at a level that
is advantageous to us," says Kim
Ullman, CEO of Concordia Maritime.
Extension of charter
In parallel, Concordia Maritime has signed an agreement
extending the contract to charter out the P-MAX tanker Stena Paris. The contract is for one year and
runs from July 2018 to July 2019. The contractual partner is one of the
world's largest oil and gas companies. Stena Paris has been used by the same customer
since 2013 for consecutive niche transportation of refined
petroleum products, mainly in the Asia
Pacific region.
"It is always pleasing to receive a renewal of confidence and
given the challenging market conditions, we are satisfied with the
level of the contract. For our part, the contract means that we
ensure employment for this specialised vessel for another year,
while continuing our cooperation with one of the world's largest
oil companies," says Kim Ullman,
CEO of Concordia Maritime.
This information is inside information that Concordia
Maritime AB (publ) is obliged to publish in accordance the EU
Market Abuse Regulation. The information was provided by the
contact persons below for publication on 25
July 2018 at 13.30 CET.
For more information, please contact:
Kim
Ullman Ola
Helgesson
CEO, Concordia Maritime AB
CFO,
Concordia Maritime AB
Tel
+46-31-855003 Tel
+46-31-855009
Mob
+46-704-855003 Mob
+46-704-855009
Email:
kim.ullman@concordiamaritime.com
Email: ola.helgesson@concordiamaritime.com
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/concordia-maritime/r/strengthened-positions-in-volatile-market,c2581281
The following files are available for download:
http://mb.cision.com/Main/1948/2581281/883070.pdf
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SOURCE Concordia Maritime