Concordia Maritime has received a payment of $5m related to two of its IMOIIMAX tankers.
The windfall is based on the cooperation between Stena Bulk and the Swedish tanker owner.
"Concordia Maritime was the driving force behind the IMOIIMAX concept initiative and the payment is a consequence of the commercial successes of the IMOIIMAX fleet since delivery," Concordia said in a release on Monday.
The payment will be booked this quarter and will be reported as "other income", the company said.
Stena Bulk commercially manages two of Concordia's IMOIIMAX tankers: the 50,000-dwt MR tankers Stena Image and Stena Important (both built 2015).
Both tankers operate in the spot market in the Stena Bulk pool, which employs around 60 vessels in the medium-range segment.
Concordia sold the Stena Important in February 2017 for $36m to Century Tokyo Leasing Corp of Japan and leased the ship back on a nine-year bareboat charter.
Stena Image was sold the to the Japanese leasing house in October 2016 and was bareboat chartered back for eight years.
Meanwhile, Concordia enjoyed a better second quarter and narrowed its loss for the period, stating that it believes it will see a "gradually stronger market" in the coming months.
