Concordia Maritime open to fleet sale with rescue plan

The financially ailing tanker carrier Concordia Maritime reports to have entered conditional agreements to strengthen its financial position and liquidity. Sister company will charter ten of Concordia's vessels, while a fleet divestment cannot be ruled out.

Photo: PR/Concordia Maritime

Tanker carrier Concordia Maritime has entered conditional agreements aimed at turning around the tanker carrier's ailing financial situation.

A weak tanker market and weak results prompted Concordia Maritime to enter into negotiations with its banks and owner Stena Group on a financial solution earlier this year. The move came after a first quarter loss before taxes of SEK 120.2 million (USD 13.9 million).

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