GÖTEBORG, Sweden, July 5, 2022 /PRNewswire/ -- Concordia
Maritime has entered into an agreement for the sale of the product
tanker Stena Paris (65,000 dwt, built in 2005). The buyer is based
in Greece and delivery is expected
to take place at the end of July
2022.
The sale is expected to have a positive liquidity effect of
approximately USD 5 million. In
accordance with existing bank agreement, the surplus will be used
for accelerated repayment of loans and thereby strengthening the
company in the longer term. Asset values for tankers have risen
during the spring in line with the positive freight market. The
agreed price is significantly above the market valuations made end
2021.
"The sale of Stena Paris is made primarily to take advantage
of the increased ship valuations and improve the company's
financial position, but in addition there is also an age factor.
The Stena Paris was the first ship to be delivered in the P-MAX
series. It is now almost 17 years ago and in a strong second-hand
market for mature quality tonnage, we are therefore now taking the
opportunity to sell our oldest vessel," says Erik Lewenhaupt, CEO of Concordia
Maritime.
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 below for publication on 5
July 2022 at 15:45
CEST.
CONTACT:
For more information, please contact:
Erik Lewenhaupt
CEO, Concordia Maritime AB
+46 704 855
188
erik.lewenhaupt@concordiamaritime.com
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/concordia-maritime/r/sale-of-the-p-max-vessel-stena-paris,c3596976
The following files are available for download:
https://mb.cision.com/Main/1948/3596976/1601284.pdf
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Concordia Maritime -
Press release - 20220705
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https://news.cision.com/concordia-maritime/i/crew-of-stena-paris-15-years-ltifree,c3068142
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Crew of Stena Paris 15
years LTIfree
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