Sale of P-MAX tanker Stena President

Mar 03 2022

Concordia Maritime has entered into a contract for the sale of the P-MAX-vessel Stena President (65,200 dwt, built in 2007).

The buyer is a shipping company based in Greece. Delivery is scheduled in March 2022.


The sale is expected to have a positive liquidity effect of approximately USD 0.6 million. The surplus will be used for accelerated amortization of bank debt. The price has been affected by the vessel being sold in an undocked condition and by a continuing low spot market. Stena President is due to have its scheduled 15-year special survey (drydock) in the third quarter of 2022.


The weak tanker market during Q1 poses continued challenges for Concordia Maritime. The sale of Stena President is made to avoid docking costs and strengthen the company's financial position. Further sales cannot be ruled out unless we see a lasting recovery in the tanker transport market", says Concordia Maritime CEO Erik Lewenhaupt.


Related News

Navios Maritime Partners L.P. reports financial results for the first quarter

(May 12 2022)

Navios Maritime Partners L.P. (“Navios Partners”), an international owner and operator of dry cargo and tanker vessels, reported its financial results for the first quarter ended March 31, 2022.

International Seaways adopts limited duration stockholder rights plan

(May 12 2022)

International Seaways, Inc. (the “Company” or “INSW”) one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced that its Board of Directors has unanimously adopted a limited...

Stolt Tankers to purchase three 33,600 DWT chemical tankers

(May 12 2022)

Stolt-Nielsen Limited (Oslo Børs: SNI) announced that Stolt Tankers B.V. has entered into agreements to acquire three 33,600 dwt stainless steel chemical tankers built in Japan.

Sale of Suezmax tanker Stena Supreme

(May 12 2022)

Concordia Maritime has entered into an agreement for the sale of the Suezmax tanker Stena Supreme (158,000 dwt, built in 2012).

TEN Ltd. announces the sale of a 2006-built LR2 product tanker

(May 05 2022)

TEN, Ltd. (TEN) (the “Company”) announced the sale of a 2006-built LR2 aframax tanker, one of the largest product tankers in the world at the time of its construction, to unrelated entities.

April-May 2023

Tsakos - Kazakhstan tanker terminal - bunker sampling - stowaways - toxic leaders - methanol - pooling and CII - emissions and chartering - end of BWTS retrofits