Concordia Maritime in Chartering Deal for Aframax Tankers

Friday, January 14, 2011

 

Concordia Maritime participates with 50% in time charter contracts for two Aframax tankers with high ice class (1A). The contracts are made by Stena Bulk. An Aframax vessel is around 110 000 dead weight tons and carries mostly crude oil. The contract extends from mid-December 2010 to the end of the first quarter of 2011, and includes a profit sharing clause, meaning that the ship owner gets part of the market earnings above a certain level. The ships are operated by Stena Bulk's Helsinki office, and employed in northern Europe. The market for this kind of tonnage is very volatile, especially during winter months and is among other things affected by ice conditions in the Baltic Sea. Shipping rates can for short periods be very high and then fall back to lower levels very quickly.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

SFL Adjusts Charter Agreement with Frontline

Ship Finance International Limited (SFL) announced that it has entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd.

New Ship Continues Atlantic Offshore's Fleet Modernization

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering

Tanker Trends

SFL Adjusts Charter Agreement with Frontline

Ship Finance International Limited (SFL) announced that it has entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd.

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering

Q88 LLC Opens Office in London

Q88 LLC has opened a new office in London. Located in Soho, the cultural center of London's West End district, the office will serve as a hub for business development and client relations.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority 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: 0.1439 sec (7 req/sec)