Concordia Maritime Boosts Suezmax Market Presence

By Eric Haun February 19, 2015

Stena Supreme, a Suexmax vessel owned by Concordia Maritime and employed on the spot market via Stena Sonangol Suezmax Pool controlled by Stena Bulk and the Angolan state oil company Sonangol (Photo courtesy of Concordia Maritime)

International tanker shipping company Concordia Maritime has signed an agreement to charter 50 percent of a vessel in the Suezmax crude oil segment for a period of one year from August 2015, with an option for an additional year.

The Suezmax tanker has a deadweight of 158,000 mt and was built in South Korea in 2012.

Kim Ullman, CEO of Concordia Maritime, said, “This agreement strengthens our presence still further in the strong Suezmax market. At the end of last year, we chartered 50 percent of a Suezmax tanker. Both these tankers will be employed on the global spot market via the Stena Sonangol Suezmax pool. Also in the pool is our owned Stena Supreme. We regard the increased investment in the crude oil segment as a good complement to our P-MAX fleet of 10 vessels with a focus on product tankers.”