Concordia Maritime has entered into a contract for the sale of the P-MAX-vessel Stena President (65,200 dwt, built in 2007). The buyer is a shipping company based in Greece. Delivery is scheduled in March 2022.

The sale is expected to have a positive liquidity effect of approximately USD 0.6 million. The surplus will be used for accelerated amortization of bank debt. The price has been affected by the vessel being sold in an undocked condition and by a continuing low spot market.

Stena President is due to have its scheduled 15-year special survey (drydock) in the third quarter of 2022.