Furthermore, a contract to charter out the P-MAX tanker Stena Performance has also been signed, with a large global oil company and the vessel will be used primarily for niche traffic in the Middle East.

The latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50%. The vessels will be operated by Stena Bulk Product & Chemicals.

The contract for Stena Performance is for six months, with an option for a further six months, and is in effect from January 2018.

"By chartering in a total of six vessels (50% each), we have now increased earning capacity significantly in a short period. At the same time, we continue our efforts to identify niche trades for our P-MAX vessels, where their unique properties are particularly beneficial. The new P-MAX contract is a good example of this. For our part, the contract means that we secure employment for the vessel for six months ahead, at a level clearly above the market and standard vessels," Kim Ullman, CEO of Concordia Maritime, noted.