Sale of positions in chartered-in Suezmax vessels
Concordia Maritime is selling the positions previously taken in four chartered-in Suezmax vessels. The economic value corresponds to an EBITDA of USD 5.3 million.As part of the fleet positioning ahead of the gradually stronger market that was expected, Concordia Maritime participated in period charters of four Suezmax tankers. Concordia Maritime’s share was 50 percent. Stena Bulk accounted for the remaining 50 percent and the owner of the ships also had a profit-sharing entitlement. As anticipated, the stronger market has now materialised and the positions have a clear economic value.