Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco, and Concordia Maritime's share amounts to 50 percent. The contract, which comes into effect at the end of November 2015, is for two years with an option for a further one to six months.

The vessel was built in 2014 and is an eco-design tanker, which means about 25 percent lower fuel consumption than the previous generation of MR tankers.

The vessel will be operated by Stena Weco, which has a fully integrated global logistics network for the transportation of petroleum products, light chemical and vegetable oils.

Kim Ullman, CEO of Concordia Maritime, said, “This vessel represents an interesting complement to our existing fleet of PMAX and IMOIIMAX vessels. The transaction strengthens our position in the MR segment. We believe in a continuation of the strong market, and we have a highly competent partner in Stena Weco.”