Concordia Maritime inks charter agreement with an oil and gas company for two P-MAX product tankers

Gothenburg, Sweden based Concordia Maritime has won a new contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement is for 6 months initially and will run until the end of 2014, the Sweden company said in a press release.

"We are very proud to have concluded this deal and we are looking forward to continuing to develop this growing trade with refined petroleum products into the Asia Pacific with our business partner,” says Kim Ullman, CEO of Concordia Maritime.

The P-MAX tankers are particularly well suited for this trade with their extremely shallow draft design. Their LOA is 183 meters, the same as conventional MR tankers, but they have a beam of 40 meters enabling them to lift approx. 50,000 mt on 11 meters. They also have a fully redundant propulsion system with two separate engines, steering machinery, rudders and propellers.

Stena Provence and Stena Polaris specifications: length - 183 m, beam - 40 m, draft (design) - 11.3 m, deadweight - 65,200 tons.

Gothenburg headquartered Concordia Maritime was established in 1984 and now is an international tanker shipping company specializing in refined petroleum products and vegetable oils transport. Concordia Maritime owns a fleet of ten P-MAX and one Suezmax tanker and has two IMO2MAX MR product tankers on order for delivery in 2014-2015.