Concordia Maritime has signed a contract to charter out a post-panamax (P-MAX) tanker for two years to an unnamed Chinese shipping company.
Kim Ullman, CEO of Concordia Maritime, commented: “The contract is fully in line with our fleet and earnings strategy. We are now taking advantage of the strong market and chartering out one of our P-MAX tankers over a longer period. This means that we ensure a good level of income for the vessel over the next two years, while balancing our exposure to the spot market in a well-judged way.
The charter will commence late January to early February 2016, and the vessel will be used to transport heavy oil products between Korea, Japan and China.