Concordia renews Total contract for P-MAX vessels

Concordia renews Total contract for P-MAX vessels

Concordia Maritime has renewed a contract with France’s Total for 12 months for two vessels. The contract also includes an additional vessel for six months.

The renewed contract relates to three P-MAX vessels: Stena Paris, Stena Provence and Stena Polaris.

“It’s obviously very positive to achieve the renewed confidence of this customer, which has specific transport requirements that suits the high cargo capacity of our P-MAX vessels, which results in a lower actual cost per unit. The contract is fully in line with our efforts to steer employment towards niche trades that can optimally utilise the P-MAX vessel’s unique characteristics,” said Kim Ullman, CEO of Concordia Maritime.

On Concordia Maritime’s outlook for the quarter, Ullman noted: “Just as previously predicted, we can now see a seasonal slowdown in the second half of the third quarter. This is from high levels, however, and we do not think the decline will be as deep and prolonged as seen in recent years. Our basic market outlook as from the fourth quarter is therefore still positive.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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