The contract, which also includes an option for an additional year, is with an unnamed oil and gas company. Stena says the vessel has been used by the same customer for the transportation of refined petroleum products, mainly in the Asia Pacific region.
Kim Ullman, CEO of Concordia Maritime, commented: ''It's always pleasing to be given a renewal of confidence. Long standing customer relationship are one of the cornerstones of our strategy. Given the challenging market conditions, we are pleased with the level of the contract. But what's really important here is maintaining a long term perspective and continuing our partnership with one of the world's largest oil companies.''
Concordia Maritime has ten P-MAX tankers in its fleet, four of which are now on long term time charters.