Stena Provence News

Sweden-based shipowner Concordia Maritime announced it has sold three product tankers to a European buyer for above-market prices.The company said Friday that it has entered into an agreement for the sale of the 65,200 dwt vessels Stena Primorsk, Stena Performance and Stena Provence, all built in 2006 at Croatia's Brodosplit Shipyard. The ships are expected to be delivered to their new owner during the fourth quarter of 2022."The agreed price is significantly above the market valuations made mid 2022…

Sweden-based shipowner Concordia Maritime has agreed to sell three product tankers, Stena Primorsk, Stena Performance and Stena Provence, all built in 2006 and of 65,200 dwt, to an unnamed European buyer.Concordia Maritime said Friday that the delivery is expected to take place during the fourth quarter of 2022."The sale is expected to have a positive liquidity effect of approximately USD 30 million. The surplus will be used for repayment of loans," the company said.According to Concordia Maritime…

Concordia Maritime said it has signed a contract to charter out the P-MAX tanker Stena Provence for another year from September 2018.The contractual partner is one of the world’s largest oil and gas companies, who has used the vessel since 2014 for niche transportation of refined petroleum products, mainly in the Asia Pacific region.“This customer has a specific transport need, for which the large load capacity of our P-MAX vessels are well suited,” said says Kim Ullman, CEO of Concordia Maritime. “For our part, the contract is fully in line with our efforts to concentrate employment on niche trades where the P-MAX vessels’ unique properties are most beneficial.”This is Concordia Maritime’s second contract extension in the recent period.

Concordia Maritime signed a contract to charter out the P-MAX tanker Stena Provence. The contract is for one year, with an option for a further year, and runs from mid-September 2017. The contractual partner is one of the world’s largest oil and gas companies. The vessel has previously been used by the same customer for consecutive transportation of refined petroleum products, mainly in the Asia Pacific region. This is the second time charter contract for Concordia Maritime in recent months. A similar contract was signed with the same customer in June for the P-MAX vessel Stena Paris. “It’s always pleasing to be given a renewal of confidence. Long-standing customer relationships are one of the cornerstones of our strategy.

International tanker shipping company Concordia Maritime said it has renewed a contract with an international oil and gas company for 12 months for two vessels. The contract also includes an additional vessel for six months. The renewed contract relates to three P-MAX vessels: 2005-built Stena Paris and 2010-built Stena Provence and Stena Polaris. CEO of Concordia Maritime Kim Ullman said, "It's obviously very positive to achieve the renewed confidence of this customer, which has specific transport requirements that suits the high cargo capacity of our P-MAX vessels…

Concordia Maritime has just renewed its contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement will run until the summer of 2015. “This is a testament to the fact that our P-MAX tankers make a major difference when properly utilized. We are very pleased to be able to extend this charter, which, alongside our business partner, we have long and successfully cultivated in this region of the world,” says Kim Ullman, CEO of Concordia Maritime. “We have been working hard throughout the year to implement a more assertive charter strategy to maximize the strong earnings capacity of the vessels, which is also the case within the framework of this agreement,” adds Kim Ullman.

Concordia Maritime has renewed its contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement will run until the summer of 2015. “This is a testament to the fact that our P-MAX tankers make a major difference when properly utilized. We are very pleased to be able to extend this charter, which, alongside our business partner, we have long and successfully cultivated in this region of the world,” said Kim Ullman, CEO of Concordia Maritime.

Sweden's Concordia Maritime says it has contracted out the 50,000 dwt P-MAX tankers Stena Provence and Stena Polari to a major oil and gas company for 6 months initially to run until the end of 2-14. "We are very proud to have concluded this deal and we are looking forward to continuing to develop this growing trade with refined petroleum products into the Asia Pacific with our business partner,” says Kim Ullman, CEO of Concordia Maritime. “Since January this year, we have adopted a more aggressive chartering strategy to maximize the vessels’ superior earnings capacity, which is also the case with this deal,” concludes Kim. Concordia adds that these P-MAX tankers are particularly well suited for this trade with their extremely shallow draft design.

Concordia Maritime has just won a new contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement is for 6 months initially and will run until the end of 2014. "We are very proud to have concluded this deal and we are looking forward to continuing to develop this growing trade with refined petroleum products into the Asia Pacific with our business partner,” says Kim Ullman, CEO of Concordia Maritime.

Concordia Maritime has now completed the upgrade of two of its P-MAX tankers to chemical class III, so-called IMO III classification. This means that the vessels are now also able to transport vegetable oils, in addition to refined petroleum products and crude oil. The vessels in question are the Stena Performance, re-delivered from her time charter at the end of June, and the latest addition to the fleet, the Stena Premium, delivered from the shipyard in June. An IMO III upgrade means that the vessels’ flexibility in the market is increasing and more days laden than in ballast can be achieved. The Stena Performance has been employed on the open market since July. Her operation is handled by Stena Weco on our behalf.

On Sept. 23 Concordia Maritime took delivery of the product tanker Stena Progress from Brodosplit Shipyard, Croatia. The vessel has been signed to a five-year time charter with the French oil and energy company Total to transport refined products. The Stena Progress, a so-called P-Max tanker, is the seventh in a series of ten units ordered. She was named on Sept. 3 at Brodosplit. The sister vessels Stena Paris, Stena Provence and Stena Perros are all on long time charters to Total. In all, Total has four of ten P-Max tankers on time charters with a remaining charter period of 14 years as of Sept. 24. The P-Max tankers are 600.4 ft long, have a breadth of 131.2 ft, a draft (design) of 37 ft, and a deadweight of 65,200 tons. (www.concordia-maritime.se)

Concordia Maritime’s product tanker Stena Progress was named at Brodosplit Shipyard in Split. On delivery, the vessel will enter a five-year charter with the French energy company Total. The Stena Progress is the seventh tanker of ten in the so-called P-MAX series. The godmother was Mrs. Wei Ling Sim, Chartering Manager at Total in Singapore. The master is Captain Steven Targett. The P-MAX sister vessels Stena Paris, Stena Provence and Stena Perros are also chartered to Total. The first P-MAX tanker was delivered in December 2005 and delivery of the tenth unit is set for 2010. Concordia Maritime’s policy is to build tankers with proactive safety.

Concordia Maritime and the French oil and energy company TOTAL signed an agreement today covering charters totalling nine years for three different P-MAX tankers. The agreement is for a 5-year time charter of the Stena Progress, which will be delivered from Brodosplit Shipyard at the end of 2009 as well as 2-year extensions of the existing charters of the sister ships Stena Paris and Stena Provence, whose current 5-year charters expire in 2010 and 2011, respectively. With today's agreement, TOTAL now has four of Concordia Maritime's ten P-MAX tankers signed to time charters. The remaining duration of the charters for these four vessels is 22 years.

Concordia Maritime took delivery of the second P-MAX tanker, Stena Provence, from the Brodosplit shipyard in Croatia. French oil company TOTAL for five years. All the P-MAX tankers built are certified with a so-called Green Passport by the classification society DNV. Green Passport means that all hazardous materials on board the ship are identified and documented. With this certification, which is voluntary, the company is acting proactively in the event of future mandatory regulations as well as recommendations relating to ship recycling. The certification is the result of close cooperation with the yard and the classification society DNV. In 2003, six vessels, which are being built in accordance with the MAX concept, were ordered.