Concordia Maritime sends P-MAX out on time charter

Concordia Maritime sends P-MAX out on time charter

Concordia Maritime has signed a contract to charter out a post-panamax (P-MAX) tanker, the second in under a month.

The vessel will be chartered out to an unnamed UK shipping company from the beginning of February for one year with an option for a further year. The vessel will be used to move light oil products to West Africa.

Kim Ullman, CEO of Concordia Maritime, commented: “We are continuing to take advantage of the strong market by chartering out another of our P-MAX tankers over a longer period. The contract is fully in line with our chartering strategy. We ensure a good level of income for the vessel over the coming year, while balancing the exposure to the spot market in a well-judged way. In a short time, we have now chartered out two of our ten P-MAX tankers over longer periods and we are evaluating the possibility of similar arrangements.”

In December, Concordia chartered out a P-MAX tanker to a Chinese company for a two year period.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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