Concordia Sells Two VLCCs

Friday, January 16, 2004
Concordia Maritime has sold its two remaining VLCCs in the so-called Concordia Class, the Stena Congress and the Stena Constellation. They will be converted by the buyer for operation in offshore projects. The vessels will be delivered later in 2004 and their sale is expected to result in a capital gain of approx. SEK 50 million.

Concordia's quality concept with robust tankers manned by large, highly qualified crews was first implemented in the six tankers in what came to be called the Concordia Class. The high quality of these vessels together with a unique market situation has made it possible for Concordia to dispose of four of these vessels for continued operation on oilfields at sea for many years beyond their 30th anniversary. At the same time, we have been able to invest in new, ultramodern vessels at reasonable prices - the two V-MAX tankers delivered in 2001 and the six P-MAX tankers ordered in 2003.

When the last two vessels in the Concordia Class generation are delivered to the buyer, the construction of our new P-MAX fleet, incorporating the latest technology for the safe transportation of oil in sensitive waters, will be in progress. Concordia can now be regarded as a completely new company with a completely new fleet, but with long experience of safe oil transportation at sea.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Tanker Trends

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

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Salvage 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: 0.2420 sec (4 req/sec)