Strategy in brief
- To continue to develop Concordia Maritime’s position as a partner of choice in transportation of oil and petroleum products.
- To continue to identify the market’s need for efficient transportation and thereafter develop vessels and logistic solutions based on transport economy, flexibility and a well-developed environmental safety philosophy.
- To utilise our strong financial position to do new business with the right timing.
- To continue to take advantage of the unique competence existing in the Stena Sphere with respect to market know-how, shipbuilding and ship operation.
Innovation and Performance
Our mission is to generate a profit by providing our customers with safe, cost-efficient tanker transportation based on innovation and performance.
Our customers
Concordia Maritime’s customers include some of the world’s largest oil and energy companies. Customer relations are characterised by partnership, cooperation and a long-term perspective.
Our cooperation partners
Concordia Maritime conducts its business activities in close cooperation with several companies in the Stena Sphere. This means that the company’s business activities can be conducted cost-effectively at the same time as its customers have access to the Stena Sphere’s knowledge base.
Our strengths
At Concordia Maritime, a deep understanding of the individual customer is combined with cuttingedge competence in the development and design of ships, shipbuilding, manning, chartering and commercial operation. The result is safe and efficient transportation.
Our market
The downturn in the market, which began in 2006, continued in 2007. Compared with 2006, freight rates in both the large tanker and product tanker markets were lower. The freight rates fell most in the spot market while in the time charter market they were only slightly lower than in 2006.
What we transport
The change in business activities implemented in recent years has resulted in a shift in focus from the transportation of crude oil to the transportation of refined petroleum products. The twelve tankers ordered in the last few years, and which are now in the process of being delivered, are all designed primarily to transport refined petroleum products such as petrol, diesel fuel and jet fuel. In addition to our own vessels, we have also chartered two crude oil tankers from the US shipping company Arlington Tankers. At the end of 2007, Concordia Maritime had ten vessels at its disposal.