Concordia Maritime has decided to sell its positions in four chartered-in suezmax tankers on the back of an expected stronger market.
The Kim Ullman-led company in May took a 50% stake in three suezmaxes chartered to Stena Bulk, followed by a fourth in July.
Concordia expects to earn $5.3m off the move in the fourth quarter, based on the companies’ share of the difference between period charter cost and positions' estimated income.
