Jan. 27, 2014 09:28 UTC

Concordia Maritime signs new agreement with Total

GÖTEBORG, Sweden--(BUSINESS WIRE)-- Regulatory News:

Concordia Maritime has inked yet another deal with Total, the French energy and oil company. The agreement covers the P-MAX Stena Paris, which will sail on one of Total’s special routes from South East Asia to Polynesia. The Stena Paris had previously been chartered to Total between 2005 and 2012. The new charter is for one year with an option on a 12-month extension.

As part of the agreement, the P-MAX Stena Progress, which has also been on charter to Total, will now be redelivered on mutually agreed terms. The Stena Progress is currently sailing within the Stena Weco system on the open market for product tankers, a market that is continuing to develop favourably.

“We are very pleased and proud that Total has decided to charter the Stena Paris once more for its traffic. The vessel is very suitable for the type of transportation she will be used for and will contribute to profitable optimisation”, says Kim Ullman, CEO of Concordia Maritime.

The Stena Paris, built in 2005, is a P-MAX tanker. This design was developed in consultation with Total, which means that she is particularly suited for the route she will now sail on.

The Stena Paris is one of ten P-MAX tankers in Concordia Maritime’s fleet. The vessels have a double hull, two engine rooms with full water and fire integrity and two separate propulsion systems. Manoeuvrability and an integrated bridge layout are also very important when it comes to facilitating safe navigation in narrow channels.

Technical data for the P-MAX tankers: Length: 183 m, beam: 40 m, draft (design): 11.3 m, deadweight: 65,200 tons.

Concordia Maritime is an international tanker shipping company. We focus on cost-efficient and safe transportation of refined petroleum products and vegetable oils. The company’s B shares were admitted to trading on Nasdaq OMX Stockholm in 1984. www.concordiamaritime.com

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Contacts

Kim Ullman
CEO
Concordia Maritime AB
Tel: +46 31 855003
Mobile: +46 704 855003
E-mail: kim.ullman@concordiamaritime.com


Source: Concordia Maritime