Concordia Maritime offloads P-MAX vessel Stena Perros (65,000 dwt, built in 2007)
Divestment of P-MAX vessels in line with bank agreements.
Concordia Maritime has entered into a contract for the sale of the P-MAX vessel Stena Perros (65,000 dwt, built in 2007). The buyer is an oil company with operations in Africa and delivery is expected to take place at the end of January.
The sale is expected to have a positive liquidity effect of approximately $ 1.4 million. The surplus will be used for accelerated repayment of loans and thereby strengthen the company in the longer term. However, the purchase price is below the book value and previous valuation. The purchase price has been affected by the vessel being sold in undocked condition and a continued low spot market. A planned 5-year dock for Stena Perros was scheduled for the fourth quarter of 2022.
“Despite existing charter agreements, the continued weak tanker market poses challenges for Concordia Maritime. The sale of Stena Perros is made to improve the company's financial position and is in line with the bank agreement entered into in the autumn of 2021. Further sales in the future can not be ruled out if we do not see a rapid recovery in the market for tanker transport ", says Erik Lewenhaupt, CEO of Concordia Maritime.
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