Concordia Maritime finances Suezmax

Concordia Maritime has now secured financing for the newly ordered Suezmax tanker Stena Supreme. The vessel, which will be built by the South Korean shipyard Samsung, is set for delivery in Q2, 2012. The financing, which will be jointly provided by the banks SEB and DnB NOR, amounts to approx. 70% of the investment and has a currency of seven years.

“In our view, the timing of the financing of this vessel is right. It is also gratifying that we have been able to secure financing with two of the good banks with which we have excellent relations”, says Göran Hermansson, CFO.
 
The vessel is part of a series of seven tankers designed by Stena Bulk and ordered in March 2010. The intention is to employ the tankers on the open market via the Stena Sonangol Suezmax Pool.
 
“Concordia Maritime is in good financial shape. This means that we are well prepared and have the capacity to invest in both new projects and interesting business opportunities that may emerge as a result of the challenging shipping markets”, says Hans Norén, President.

Hans Norén, President
Tel +46 31 855101
Mobil +46 704 855101
www.concordiamaritime.com

About Us

Concordia Maritime is an international shipping company. Our focus is on the cost-efficient and safe transportation of refined petroleum products and edible oils. The series B-share has been listed on Nasdaq Stockholm since 1984. www.concordiamaritime.com

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