Concordia Maritime and Stena Bulk charter in three suezmaxes

Concordia Maritime and Stena Bulk charter in three suezmaxes

Concordia Maritime stays it has joined in with Stena Bulk to charter in three South Korean-built suezmax tankers to go into the Stena Sonangol Suezmax Pool.

Concordia and Stena have taken an equal share in the charters, which are for 12 months fixed with an additional option to extend through to the end of 2019.

Kim Ullman, CEO of Concordia Maritime, commented: “We continue to act based on our belief in a progressively stronger market from autumn 2018 onwards. By chartering in the three suezmax tankers, we also strengthen our presence in the crude oil tanker segment and continue to increase our earning capacity. The weak market means that we could enter into the contracts at favourable terms. In purely operational terms, we know the vessels well, as they have earlier been employed in the Stena Sonangol Suezmax Pool. This is obviously a reassuring bonus.”

Prior to the charters, Concordia only had one suezmax in its fleet, the 2012-built Stena Supreme (pictured) which is on bareboat charter until 2028. The Stena Supreme is also part of the 25-strong Stena Sonangol Suezmax Pool.

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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