Satisfying our customers’ transport and logistics requirements requires a deep understanding of both the forces driving the market and the individual customer’s business.
At Concordia Maritime, this knowledge is combined with cutting-edge competence in naval architecture and first-class manning and chartering. Collaboration with customers is based on long-term relations and high ambitions with respect to efficient and safe transportation.
The fleet in 2009
At the end of 2009, Concordia Maritime’s product tanker fleet consisted of seven wholly owned P-MAX tankers and two part-owned Panamax tankers. The fleet operates in different geographical markets all over the world, transporting both light and heavy petroleum products (e.g. petrol and heavy oil) as well as crude oil.
At the beginning of 2010, a further P-MAX tanker, the Stena Polaris, was de- livered from Brodosplit Shipyard in Croatia. A further two P-MAX tankers have been ordered and will be delivered in 2010 and 2011.
All the vessels so far delivered have been signed to charters of between five and ten years on delivery. The long-term charters are advantageous for both the customers and Concordia Maritime. The charters give the customers operational stability in their transport flow, and the charter periods give Concordia Maritime a stable cash flow and reduce its sensitivity to the large fluctuations on the tanker market.
In the large tanker segment, the fleet consisted of the two chartered V-MAX tankers Stena Vision and Stena Victory until October 2009 when they were redelivered to their owner General Maritime. As a result, Concordia Maritime no longer has any vessels in the large tanker segment.