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Northern Marine Management Ltd News

11 Dec 2020

New CFO for Concordia Maritime

Concordia Maritime's Suezmax vessel Stena Supreme - Photo: Christian Badenfelt/via Concordia Maritime

Swedish tanker shipping company Concordia Maritime has named Martin Nerfeldt as the new CFO and member of Group management. He will replace the current CFO Ola Helgesson, who has decided to leave his position to take on new challenges.Nerfeldt holds an MSc (Economics) from the Gothenburg School of Business, Economics, and Law, and joins the Company from his role as CFO of Sail Racing International AB. He has over 20 years’ experience in finance, economics, and business development…

21 Dec 2011

BV Completes first Energy Management Systems Audit

Bureau Veritas has completed the first certification audit of any shipping company in the world  to the new standard ISO 50001- 2011 - Energy Management Systems. Stena’s ship management division,  Northern Marine Management Ltd including  Northern Marine Management (USA) LLC,  has achieved certification to BS ISO 50001, which ensures systematic monitoring and control of energy usage, helping to optimise efficiency, reduce fuel consumption, reduce the company’s environmental footprint and provide a cost saving for the vessels owners.

22 May 2006

Stena Vision Repair Prolonged

Arlington Tankers Ltd. Management Ltd. due to an engine maintenance program. for several months. charter to Concordia Maritime AB (Concordia) of Sweden until November 2009. The daily basic charter rate for the Stena Vision for 2006 is $36,075. contractual vessel management fees. contract for the vessel.

18 May 2006

Stena Vision to Experience Prolonged Period of Repair

Arlington Tankers Ltd. was notified by its vessel manager, Northern Marine Management Ltd. (Northern Marine), that one of its two VLCC tankers, the Stena Vision, built in 2001, will now commence a prolonged period of repair due to an engine maintenance program. The 314,000 metric tonne deadweight vessel was undergoing a scheduled dry-dock period when it was determined that the repair was necessary, and that the vessel will be out of service for several months. The Stena Vision is currently on a long-term time charter to Concordia Maritime AB (Concordia) of Sweden until November 2009. The daily basic charter rate for the Stena Vision for 2006 is $36,075.

10 Jan 2006

Arlington Tankers Acquires Product Tankers

Arlington Tankers Ltd. has completed the acquisition of two modern 47,000 deadweight tonne double-hulled Product tankers from the Stena Group for an aggregate purchase price of $92 million. The new vessels, Stena Contest and Stena Concept, were built in 2005. With the delivery of the two new vessels, Arlington's eight-vessel fleet now consists of four Product tankers, two Panamax tankers and two V-MAX tankers. In conjunction with the purchase, Arlington has entered into fixed rate charter hire agreements with Stena Bulk AB for both vessels. The charters provide for an initial period of three years, at a rate commencing at $19,765 per day for the first year, $20,043 per day for the second year, and $20,335 per day for the third year.

18 Nov 2005

Arlington to Acquire Two Tankers for $92M

Ltd. million in cash. in 2005. Arlington expects to take delivery of the vessels in January 2006. charter hire agreements with Stena Bulk AB for both vessels. day for the third year. initial three year period. 30 months. vessels with Northern Marine Management Ltd. fixed rates commencing at $5,565 per day and increasing at 5% per year. Northern Marine Management Ltd. is a wholly-owned subsidiary of Stena Group. vessels. approximately 14.4% of Arlington's outstanding shares of common stock. necessary financing to pay the cash purchase price. amortizing term loan facility with The Royal Bank of Scotland. interest rate swap. 2005. existing debt facility. interest rate swap with Fortis Bank and HSBC Bank. the purchase of the vessels and to establish the new debt facility. Marine.

17 Nov 2005

Arlington Tankers to Acquire Product Tankers

Arlington Tankers announced that the Company has entered into an agreement to acquire two modern 47,000 deadweight ton double-hulled product tankers from the Stena Group for an aggregate purchase price of $92 million in cash. in 2005. Arlington expects to take delivery of the vessels in January 2006. charter hire agreements with Stena Bulk AB for both vessels. day for the third year. initial three year period. 30 months. vessels with Northern Marine Management Ltd. fixed rates commencing at $5,565 per day and increasing at 5% per year. Northern Marine Management Ltd. is a wholly-owned subsidiary of Stena Group. vessels.