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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

FSL Trust Inks Tanker Contracts

FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust announced new time charter agreements for FSL Shanghai, FSL Hamburg and FSL Singapore.

Proforma DAs on the Go

DA-Desk has launched a new service under its PortSpend ManagementTM solution, the Proforma Disbursement Account (PDA) Approval Mobile App. The mobile app is available

CMES Rides High on Hope

China Merchants Energy Shipping (CMES), a Chinese international oil tanker operator, projects doubled profit in the first half of 2015 from a year ago.    The

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1073 sec (9 req/sec)