Concordia Maritime invests in two more P-MAX tankers (65,200 deadweight tons)

Concordia Maritime has exercised existing options and placed an order with the Brodosplit shipyard in Croatia for a further two vessels in the P-MAX series, thus extending the series to ten units. Concordia Maritime has invested a total of more than SEK 3.5 billion in its new fleet, which currently consists of ten P-MAX tankers and two Panamax tankers. The two vessels now ordered are expected to be delivered in 2010.

“We are very satisfied with the MAX concept in general and the P-MAX model in particular. The concept is a commercial success for us and for the customers who have chartered these cost-effective and very safe vessels”, says Hans Norén, President of Concordia Maritime. The first six P-MAX tankers, either delivered or set for delivery by 2008, already have employment in the form of long-term time charters. P-MAX series P-MAX no. 1 Stena Paris delivered in December, 2005 and chartered to French TOTAL P-MAX no.2 Stena Provence delivered at the beginning of 2006 and chartered to French TOTAL P-MAX no.3 Stena Primorsk delivered in May, 2006, and employed by a Russian charterer P-MAX no.4 Stena Performance delivered in June, 2006, and chartered to US Hess Corporation P-MAX no.5 Stena President delivery at the end of 2007 and employed by a Russian charterer P-MAX no.6 Stena Perros delivery at the beginning of 2008 and chartered to TOTAL P-MAX no.7 Stena Progress delivery in 2009 P-MAX no.8 Stena Prosperity delivery in 2009 P¬-MAX no.9 Stena Preference delivery in 2010 P-MAX no.10 Stena Premium delivery in 2010