Concordia Maritime, the listed product tanker owner in the Gothenburg-based Stena sphere of companies, has extended the charters of two P-Max vessels with an undisclosed oil company by 12 months and added a third vessel in the deal for six months.
A company statement said the vessels concerned were Stena Paris, Stena Provence and Stena Polaris, which are of 65,000 dwt and built between 2005 and 2010. They are wider than traditional tankers of the same size, with shallower draft and twin engines plus rudders for safety.
“Exactly as foreseen earlier, we are noticing a seasonal slowdown in the second half of the third quarter,” said Kim Ullman, chief executive officer of the company. “However, this is happening after the market had reached high levels and we believe that the downturn will not be as pronounced and long as in the past few years. Our view of the market for the fourth quarter and beyond that is therefore positive,” he said.