Concordia Maritime has entered into a contract for the sale
of the P-MAX vessel Stena
Perros (65,000 dwt, built in 2007). The buyer is
an oil company with operations in Africa and delivery is scheduled for the end
of January.
GÖTEBORG, Sweden, Jan. 15, 2022 /PRNewswire/ -- The sale is
expected to have a positive liquidity effect of about USD 1.4 million. The surplus will be used for
accelerated amortization of bank debt, improving the long-term
prospects of the company. However, the agreed price is below the
vessel's book value and previous valuation. The price has been
affected by the vessel being sold in an undocked condition and by a
continuing low spot market. Stena
Perros is due to have its scheduled 5-year special
survey (drydock) in the fourth quarter of 2022.
"Despite existing charter agreements, the continued weak
tanker market poses challenges for Concordia Maritime. The sale of
Stena Perros is aimed at improving
the Company's financial position and is in line with the bank
agreement signed in autumn 2021. Further sales cannot be ruled out
in the future unless we see a rapid recovery in the tanker
transport market", says Concordia Maritime CEO Erik Lewenhaupt.
For more information, please contact:
Erik
Lewenhaupt
CEO, Concordia Maritime AB
+46 704 855
188
erik.lewenhaupt@concordiamaritime.com
This information is information that Concordia Maritime
Aktiebolag (publ) is obliged to publish in accordance with the EU
Market Abuse Regulation. The information was provided by the
contact person above for publication on 15
January 2022 at 16.30 CET.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/concordia-maritime/r/sale-of-p-max-vessel--in-line-with-bank-agreement,c3486751
The following files are available for download:
https://mb.cision.com/Main/1948/3486751/1520815.pdf
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Concordia Maritime -
Press release - 20220115
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SOURCE Concordia Maritime