Concordia Maritime signs charter contracts with Lukoil

Concordia Maritime has today signed two-year timecharter contracts for the V-MAX vessels Stena Vision and Stena Victory with Litasco, a subsidiary of the Russian oil company Lukoil.

The new time charters will commence immediately upon expiration of the current charter contracts with the American oil company Sunoco at the end of 2007. The vessels are chartered in from Arlington Tankers Ltd until the end of 2009. With the new time charter contracts Concordia Maritime has secured employment for the entire period. The agreement is estimated to give a positive effect on the result of approx. 20 MSEK per year for 2008 and 2009.