Sweden’s Concordia Maritime is preparing for an expected market upturn with the chartering in of two more MR tankers, while also extending the contracts for two MRs currently chartered in by a further year.
The two vessels brought in are joint charters with Stena Bulk, and the vessels will be operated by the MR pool within Stena Bulk Product & Chemicals.
Additionally, Concordia has sealed a contract to charter out P-MAX tanker Stena Performance for six months, with a further option for six months. The charter, which commences this month, is with a large global oil company and will see the ship used primarily for niche traffic in the Middle East.
Kim Ullman, CEO of Concordia Maritime, commented: “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.”
Last month, Concordia brought in a newbuild IMO2/3 class MR tanker on charter for a two-year period and extended the charter of another product tanker.
