Concordia Maritime announced the sale of its oldest ships on Friday.
The Stockholm-listed tanker owner did not disclose the price for the three sisterships, other than to say it is “significantly above the market valuations made in mid-2022” and it boosts its liquidity by about $30m.
TradeWinds reported on Tuesday that the traditional tanker company was offloading the 65,100-dwt Stena Primorsk, Stena Performance and Stena Provence (all built 2006) for about $20m each.
The Croatian-built ships will be delivered to their new European-based owners in the fourth quarter.
“The sale of the vessels is made primarily to take advantage of the increased ship valuations” amid “massive interest in secondhand tonnage”, Concordia chief executive Erik Lewenhaupt said.
As interest for such ships surges amid the redrawing trade patterns after the outbreak of the Ukraine war, “timing is absolutely crucial”, he added.
“Right now we are getting paid very well for our oldest ships.”
The deal boosts to nine the number of ships divested by the owner since a refinancing last year.
Surplus liquidity from its latest sale will go towards accelerating the repayment of debt, in line with existing bank agreements.
Following delivery of the three ships, the company will be left with a fleet of four vessels — all P-Max product tankers on long-term time charters to Stena AB, built between 2009 and 2011.
