Concordia Signs Charter with Hess

Tuesday, June 21, 2005
Concordia Maritime entered a five-year time charter agreement for a P-MAX tanker with the U.S. oil company Amerada Hess Corporation. The charter rate will be $23,000 per day.

The vessel, which is expected to be delivered around mid-2006, will mainly run between the Caribbean and US East Coast.

Amerada Hess Corporation is a global integrated energy company engaged in the exploration for and the production of crude oil and natural gas, the refining of crude oil and the sale of refined products, natural gas and electricity. Almost 70% of the capital is deployed in Exploration and Production. The stock trades on the New York Stock Exchange under the ticker symbol AHC.

The design of P-MAX vessels, which permits a larger freight load than corresponding standard vessels of the same draught, is advantageous in many ports, particularly on the US east coast, and offers customers excellent freight economy.

Thanks to the dual propulsion system, with two engine rooms, two rudders and two propellers, these vessels offer excellent levels of safety and manoeuvrability. The navigation systems and bridge layout have also been developed to facilitate better control, especially in confined and heavily trafficked passages. The bridge has a 360-degree field of view and dual command centres for manoeuvring. This agreement means that Concordia has now secured employment for five of the six P-MAX vessels on order, which will be delivered over a two-year period starting November 2005. Five-year time charter agreements have already been signed for two of the vessels with the French oil company TOTAL, and ten-year time charter agreements for two vessels have been signed with the Russian logistics company Progretra.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

Strike Idles 38 Oil Tankers at Fos-Lavera

Some 38 oil tankers have been held up at the Fos-Lavera oil port in southern France, the country's biggest, including 25 at harbour, up from 12 the previous day,

EGAS: Egypt to tender for 10 LNG Cargoes

Egypt will tender next week to import 10 cargoes of liquefied natural gas (LNG) for delivery in July and August, an official from the state gas company, EGAS, said on Thursday.

Environmental

GloMEEP Project Forges Ahead with Train-the-Trainer Workshop

A global Train-the-Trainer workshop on energy efficiency has been delivered in China (23-27 May), preparing the personnel needed to cascade knowledge on energy

Long Beach Port Maintains Strong Bond Rating

Fitch Ratings, one of the top three U.S. credit analysis agencies, has affirmed the Port of Long Beach’s “AA” rating on its outstanding debt. Fitch stated the AA rating — its highest for U.

Hansa Offenburg, Hansa Drakenburg Sail Scale-free

Leonhardt & Blumberg was founded in 1903 and has managed more than 180 vessels, the majority of which were general cargo vessels and bulk carriers. Today the company

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
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: 0.1552 sec (6 req/sec)