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Concordia Maritime is an international tanker shipping company. We focus on cost-effective freight and safe transportation of refined petroleum products and vegetable oils. The company’s B shares were admitted to trading on Nasdaq Stockholm in 1984.
Concordia Maritime‘s wholly-owned fleet consists of ten P-MAX product tankers, two newly built IMOIIMAX chemical and product tankers, and one suezmax tanker.
Our shore-based organisation consists of just six individuals. A large part of the day-to-day operational work in the form of chartering and manning is purchased instead from our partners within the Stena Sphere. The close cooperation means that operations can be conducted cost-effectively while gaining access to world-leading expertise in all areas of shipping – from shipbuilding and manning to technical operation, chartering and commercial operation.
To always be the preferred carrier and business partner within tanker transportation.
Our business concept
To create value for customers and shareholders by providing safe, sustainable and reliable tanker transportation based on innovation and performance.
To make timely investments in vessels and gain financially from fluctuations in their values.
Daily ship operation
Income from daily operation is mainly derived from compensation for contracting either through the spot market or time charters. The level of freight rates for spot charters is completely variable and based on supply and demand at any given time. With time charters, on the other hand, income consists of a pre-agreed freight rate that applies throughout the negotiated charter period. The rate is determined by the market situation when the contract is entered into and the contract length. The principal costs for a shipping company are voyage costs (fuel and port dues), daily costs (crew and ship operation) and capital costs.
Purchases and sales of vessels
Tanker shipping is capital intensive in nature, with high values attached to the vessels themselves. The prices of both new and second-hand tonnage varies according to the market and the ship’s condition. The ability to optimise the timing of purchases and sales is therefore critical to the overall profitability of the business.