Concordia Maritime has completed the sale-and-leaseback of one of its IMOIIMAX tankers as it braces for a weaker market.
Kim Ullman-led Concordia says the 50,000-dwt Stena Image (built 2005) has been taken by a Japanese finance firm and will be bareboated back for eight years.
The chief executive said in a statement the deal met several strategic goals.
“It is a step on the way to preparing ourselves for a potentially subdued market situation and at the same time positioning the company to be able to act on good business opportunities that may arise thereof,” he said.
“We
