Delivery of Stena Perros from Brodosplit

Today Concordia Maritime’s product tanker Stena Perros will be delivered 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 Perros, a so-called P-MAX tanker, is the sixth in a series of ten units ordered. The Stena Perros was named on 1 December at Brodosplit.

The Stena Perros’ sisters, the Stena Paris, delivered in 2005, and the Stena Provence, delivered in 2006, have been contracted by TOTAL for 5 years plus a 2-year extension. Additionally, the Stena Progress, the seventh P-MAX tanker with delivery set for the 4th quarter, 2009, has already been signed to a 5-year charter with TOTAL. In all, TOTAL has four of ten P-MAX tankers on time charters* with a remaining charter period of 22 years.

* Time charter = The shipping company charters out its ships complete and crewed for a payment based on a certain sum per day or a certain sum per deadweight ton and month. 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.