Arlington Tankers Announces New Sub-Charter

Friday, June 30, 2006
Arlington Tankers Ltd. announced that Concordia Maritime AB of Sweden (Concordia) has entered into new two-year sub-charter agreements for Arlington's two V-Max tankers, the Stena Vision and Stena Victory. Concordia is the current time charterer for both vessels through 2009. The vessels are currently sub-chartered to Sun Oil International (Sun). The sub-charters with Sun are due to expire during 2007. The new sub-charter agreements are with Litasco, a subsidiary of the Russian energy company LukOil OAO, and will commence immediately upon expiration of the sub-charters with Sun and continue for a two-year term. During the term of these sub-charters, Arlington will continue to earn the guaranteed daily base charter hire from Concordia, which provides for a minimum of $36,075 per day per vessel in 2007, $36,882 per day in 2008, and $37,316 per day in 2009. In addition, under the profit sharing agreement between Concordia and Arlington, these new sub-charter agreements are expected to result in additional hire of approximately $4,000 per day per vessel during the term of the new sub-charters with Litasco, as compared to the current additional hire of $3,400 per day per vessel under the Sun sub-charters.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

MHI Completes Development of "Sayaringo STaGE"

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Sayaringo STaGE," a next-generation LNG (liquefied natural gas) carrier. The Sayaringo

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

Stena Bulk Joins World Ocean Council

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime

 
 
Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1284 sec (8 req/sec)