Delivery of P-MAX Stena Progress from Brodosplit

Yesterday Concordia Maritime took delivery of the product tanker Stena Progress from Brodosplit Shipyard, Croatia. The vessel has been signed to a 5-year time charter with the French oil and energy company Total to transport refined products. The Stena Progress, a so-called P-MAX tanker, is the seventh in a series of ten units ordered. She was named on 3 September at Brodosplit.

The sister vessels Stena Paris, Stena Provence and Stena Perros are all on long time charters to Total. In all, Total has four of ten P-MAX tankers on time charters* with a remaining charter period of 14 years as of today. * Time charter = The shipping company charters out its ships complete and crewed for a payment based on a certain sum per day. The party chartering the ship pays for bunker and port fees. The P-MAX tankers have the following technical data: Length: 183 m, breadth: 40 m, draft (design): 11.3 m, deadweight: 65,200 tons.

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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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