Stena Polaris News

Concordia Maritime on Friday announced it has entered into an agreement to sell two of its product tankers. The vessels are the 65,200 dwt Stena Progress and the 65,200 dwt Stena Premium, built in 2009 and 2011 respectively.After repayment of loans and liabilities to related parties, the transaction generates a liquidity supplement of approx. SEK 100 million (approximately US$9.5 million), Concordia Maritime said. The remaining debts are current operating liabilities.“With the sale, we continue to take advantage of the strong market and the high prices for older vessels.

Concordia Maritime announced Wednesday it has entered into an agreement to sell its 13-year-old product tanker Stena Penguin to an unnamed European buyer.The 65,200 dwt Stena Penguin is scheduled to be delivered to its new owner during the second quarter of 2023.Overall, the sale is expected to have a positive liquidity effect of approximately SEK 215 million (about $20.9 million) after repayment of the remaining bank debt to Svenska Skeppshypotek, Concordia said.Concordia Maritime CEO, Erik Lewenhaupt, said, “We are now divesting another vessel with a good margin.

Dozens of tankers holding jet fuel and gasoline are at anchor in sea lanes around Europe's main storage hubs, unable to discharge their cargoes as onshore tanks are full to capacity following the collapse in demand linked to the coronavirus crisis.Nearly 1 million tonnes of refined products are parked on around 30 tankers off Europe's coast, Reuters calculations found.According to shipping data and trade sources, tankers have dropped anchor near to the Amsterdam-Rotterdam-Antwerp…

BP has provisionally chartered a 60,000 tonne tanker to store jet fuel at sea starting this week, trading sources said on Wednesday, after a collapse in demand from the aviation sector due to the coronavirus pandemic led to a huge glut.Asian jet fuel refining margins and European jet fuel prices dropped this week to record lows as several airlines drastically cut their flights schedules.BP has provisionally booked Stena Polaris to store jet fuel for 40 to 60 days starting March 20 to March 22 at a rate of $25,500 a day, according to shipping and trading sources.A BP spokesman declined to comme

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel employment and successful chartering, though still coming in under its Q2 2015 results largely due to an arbitration settlement and lower daily income for its vessels. The company reported a profit before tax of SEK 12.4 (44) million for the second quarter 2016, with operating cash flow (EBITDA) of SEK 57.2 (105.2) million, corresponding to USD 7 (13.1) million.

Concordia Maritime has signed a new consecutive voyage contract for the P-MAX tanker Stena Polaris. The contract, which comes into effect in May 2016, is for one year. The contractual partner is one of the world’s largest oil and gas companies. “This is a new niche trade that we have identified together with our customer. The new contract clearly demonstrates that we have found an arrangement that creates value for all parties. The customer has a specific transport need for which the large load capacity of the P-MAX tankers will be well suited.

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.

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.

After 35 days at sea, the Stena Polaris has arrived at the port of Yousu in South Korea. She has sailed via the icy and harsh Northeast Passage along Russia’s northern coast. After arriving at her final destination, the ship was celebrated with representatives of the South Korean government, the corporate management of both Hyundai and the Stena Group and the port authorities attending. The Stena Polaris began her voyage on September 17 in the port of Ust Luga in the Gulf of Finland with a cargo of 44,000 tons of naphtha.

The Stena Polaris is approaching its destination – the port of Yosu in South Korea. Her voyage began on September 17 in Russian Ust Luga in the Gulf of Finland, and she is expected to arrive in Yosu in about a week. For part of the voyage of 8,400 nautical miles, the tanker sailed in a convoy headed by a Russian nuclear powered icebreaker through the harsh Northeast Passage. Sailing via the Northeast Passage offers the expansive Northern Asia opportunities to speed up the freight routes to and from the region.

The Stena Polaris is one of the tankers in Stena Bulk’s fleet with the necessary technology, equipment and crew competence for a safe voyage via the Arctic. This is the ninth time that one of Stena’s ships will have sailed through the North-East Passage since 2011. The Russian authorities responsible for administering the North East Passage have exacting requirements on technology and equipment. Additionally, only during a few months every year does the ice situation allow ships to pass through the North-East Passage.

Stena Bulk’s tanker 'Stena Polaris', with a cargo of 44,000 tons of naphtha, is sailing from the Gulf of Finland via the North-East Passage to South Korea. The 'Stena Polaris' left Russian Ust Luga in the Gulf of Finland on 17 September 2013, and is expected to arrive at the port of Yosu in South Korea on 18 October. The voyage is a joint project between Stena Bulk and South Korean Hyundai Glovis. IcebreakerTaymyr is leading the way. However there is no more ice, only open water. So there is not really any need for the 36.8 MW nuclear icebreaker to escort us and the Boris Vilkicky any longer.

Stena Bulk and South Korean Hyundai Glovis, the Hyundai group’s shipping arm, will begin collaborating with a cargo shipped via the North East Passage. The Stena Polaris, a P-MAX tanker with ice class 1A, will leave Ust Luga in the Gulf of Finland on September 15 with a cargo of 37,000 tons of naphtha. The voyage, which will go via the North East Passage, is expected to take 28 days with the tanker arriving in a port in South Korea in mid-October. “We see the voyage with the Stena…

Concordia Maritime has taken delivery of the product tanker Stena Penguin, which will enter into a three-year charter with Glencore subsidiary ST Shipping. The Stena Penguin is the ninth P-MAX tanker in a series of ten tankers in the so-called P-MAX series ordered from the Croatian shipyard Brodosplit. In August, the Stena Penguin was named in a ceremony in Split. Barbara Walter, wife of shipbroker Gilbert Walter, who negotiated the order with the shipyard, was the ship’s godmother.

Concordia Maritime took delivery of the product tanker Stena Polaris from Brodosplit Shipyard in Croatia and at the same time a naming ceremony was held. The vessel has been signed to a three-year charter with ST Shipping, part of Glencore, for the transport of refined petroleum products. The Stena Polaris is the eighth unit in the P-MAX series and the first of two P-MAX tankers with the highest ice class, 1A. Her sisters, the Stena Penguin with delivery planned for Q4, 2010, and the Stena Premium, with delivery planned for Q1, 2011, have also been contracted for three years by ST Shipping. The vessel’s godmother was Mrs. Helle Andersen, wife of Jan Andersen, Head of Shipping at ST Shipping.

Maritime. group Fortum. Baltic Sea to the North American market. Concordia Maritime. Brodosplit, Stena Teknik and Fortum. Delivery will take place in 2006 and at the beginning of 2007. tons, a length of 228 m and a beam of 32 m. designed for traffic in difficult ice conditions in the Baltic Sea. waters. The vessels will have full double hulls, i.e. tanks. The total contract price for the two vessels is approx. SEK 700 million. close collaboration with our customers. waters is not a new move for us. and reliable transportation in our region. business deal. order at the shipyard. for the Baltic Sea".