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

People & Company News

ISS Inks Service Pact with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East. Currently

Hercules-2 Officially Launched

MAN Diesel & Turbo, Wärtsilä and Winterthur Gas & Diesel to collaborate on major, EU-funded project.   A major cross-industry initiative led by MAN Diesel & Turbo,

ST Marine Launches First LMV for RSN

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Launching ceremony for the first

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 Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Sonar Winch
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: 0.1578 sec (6 req/sec)