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Concordia Maritime signs time charter contract for P-MAX tanker

Concordia Maritime has signed a contract to charter out the P-MAX tanker STENA PARIS. The contract is for one year, with an option for a further year, and runs from July 2017 to July 2018. The contractual partner is one of the world’s largest oil and gas companies. The P-MAX vessel STENA PARIS. has been used by the same customer since 2013 for consecutive transportation of refined petroleum products, mainly in the Asia Pacific region. “It is very pleasing to be given this renewal of confidence. With the arrangement, we create benefits for both parties. Our customer has a specific transport need for which the large load capacity of the P-MAX concept is? (will be) well suited. For our part, the contract means that we secure employment for the vessel for a further year at a fixed rate. This is fully in line with our aim to concentrate employment on niche trades where the P-MAX vessels’ unique properties are most beneficial. And given the challenging market conditions at the moment, we are pleased with the level of the contract,” says Kim Ullman, CEO of Concordia Maritime.

Concordia Maritime renews contract for P-MAX vessels

Concordia Maritime 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: STENA PARIS, STENA PROVENCE and STENA POLARIS."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, which results in a lower actual cost per unit. The contract is fully in line with our efforts to steer employment towards niche trades that can optimally utilise the P-MAX vessel's unique characteristics," says Kim Ullman, CEO of Concordia Maritime. On Concordia Maritime’s outlook for the quarter, he said:"Just as previously predicted, we can now see a seasonal slowdown in the second half of the third quarter. This is from high levels, however, and we do not think the decline will be as deep and prolonged as seen in recent years. Our basic market outlook as from the fourth quarter is therefore still positive," says Kim Ullman.

Tanker saved elderly yachties

An elderly Swedish couple was rescued from their dismasted yacht near the Cook Islands by the "Stena Paris" on Aug 6, 2014. The Rescue Coordination Centre New Zealand (RCCNZ) detected a beacon alert from the yacht "Blue Horizon" on Aug 5 at about 5.15 p.m. The couple, a 69-year-old woman and 70-old-man, feared the broken mast would hole the hull. An aircraft was sent from the Maritime Rescue Coordination Centre in Pape'ete in Tahiti to fly over the yacht. It confirmed that the nearest rescue vessel was the "Stena Paris". The tanker was diverted to rescue the couple and they were successfully taken aboard, uninjured, at around 9 a.m. Weather conditions were not great, with swells of around four metres, so it was excellent work by the master and crew of the Stena Paris to get the couple aboard without incident. The "Stena Paris" was now continuing its voyage to Pape'ete. The yacht has been abandoned, with a warning to shipping issued.