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VTA Turbocharger boosts tanker's energy savings

Mon, 01 Dec 2008 13:16:00 GMT

Turbochargers with VTA technology will equip the MAN B&W low-speed engines aboard the new P-MAX tanker Stena Progress, which is to be delivered in June 2009. The turbochargers are expected to reduce fuel consumption by around 2 to 3 percent with parallel reductions in exhaust emissions. "We are always interested in new energy-saving technologies, " says Hans Norén, CEO of Concordia Maritime.

Unhedged

Mon, 22 Sep 2008 10:22:00 GMT

Concordia Maritime said Friday that it has ended an equity hedge aimed at guarding against exchange rate moves.

Shipping company bid starts new wave of acquisitions

Thu, 28 Aug 2008 16:39:00 GMT

AP Möller Maersk’s bid for the shipping company Broström could trigger a new wave of bids for companies with a high net worth. During the last wave of acquisitions, when the stock market was at its peak between 2000 and 2003, 20 of the companies with a high net worth on the Stockholm Stock Exchange were bought up. The odds on the next acquisition being a shipping company are high as only...

Strong first quarter puts Concordia in position to buy

Fri, 18 Jul 2008 15:35:00 GMT

Concordia Maritime has reported a strong first quarter, but is preparing for a continued drop in freight rates as new building tonnage increases.

Concordia sees value in securing its P-MAX vessels on long term charters

Fri, 18 Jul 2008 14:10:00 GMT

Concordia has obtained time charter contracts for its last three newbuilding orders for the P-MAX.

Concordia forecast hit by court verdict

Thu, 18 Jan 2007 11:48:00 GMT

Concordia Maritime has cut its 2006 earnings forecast by more than 25 percent. A London court ruled that Concordia must pay USD3.6 million to a Halliburton subsidiary. This is compensation for repair and steel replacement work done on a vessel Halliburton bought in 2000. According to Göran Hermansson, financial manager at Concordia, they will probably make a decision on whether to appeal the...

Green ships fly the flag for swedish ambitions

Fri, 03 Aug 2007 11:48:00 GMT

In June, Stena Group sailed one of its new P-MAX product tankers into the centre of Stockholm to show how precise and safe today's navigation techniques are. In addition, Stena made a point about where Sweden's maritime power is now based, writes Jerry Frank. The Stena group understands that its future is in quality modern tonnage that focuses on safety. It has been a major player in the...

Brodosplit Yard launches Stena Poseidon tanker

Sat, 10 Feb 2007 11:47:00 GMT

Gothenburg was built on maritime trade and it is still a centre of shipping activity. The city is home to the hugely successful Stena group. Its Concordia Maritime unit and Stena Bulk marketing arm are the remaining examples of Sweden's large oceangoing tanker companies. Concordia Maritime has been replacing its tonnage this decade, and now it is taking delivery of its 49, 900 dwt new built ships...

Panamax, with ice

Sat, 10 Feb 2007 11:46:00 GMT

West coast hub alive with maritime tradition

Sat, 10 Feb 2007 11:45:00 GMT