Second P-MAX Tanker Delivered

Concordia Maritime took delivery of the second P-MAX tanker, Stena Provence, from the Brodosplit shipyard in Croatia. Like her sister ship delivered earlier, the Stena Provence has been time-chartered to the 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. These vessels, P-MAX, are product tankers of about 49,900 dwt. The MAX concept means that the vessels are designed for maximum loading capacity in shallow waters. In addition to having mandatory double hulls, they have been designed according to a new concept for safer oil transportation with double main engines in two completely separate engine rooms, double rudders and steering gear, two propellers and double control systems. In 2004, two Panamax tankers of about 75,000 dwt, in which the company has a 50 per cent share, were ordered. All the six vessels on order will be delivered over a 2-year period from the end of 2005.