4/23/2003
Shell shock for old VLCCs
Blue-chip tanker owners Bergesen and Concordia have had a major chartering door slammed in their face with Shell's decision to no longer charter ships more than 25 years. The owners operate nine veteran VLCCs between them. Concordia still operates four old VLCCs. However, Concordia's managing director Lars Carlsson plays down the impact of Shell's move although he finds it surprising that they made the decision in a strong market.
"We will be taking a beating if the market drops but right now I feel the market will stay up throughout this year. These four ships have been able to trade successfully almost through their whole life," says Mr. Carlsson. The oldest Concordia ship, the 262,000-dwt Stena built in 1972, is able to trade until December this year. Mr. Carlsson says that the plan is still to sell all the ships for conversions to FPSOs.
Source
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Resuméer från Observer Sverige AB, Trade Winds (N), 2002-10-25