Sale of Positions in Chartered-in Suezmax Vessels - Concordia Maritime

As anticipated, the stronger market has now materialised and the positions have a clear economic value. Concordia Maritime has today agreed with Stena Bulk to sell the shares in the above-mentioned period charters January 1 2019 to the end of the charter period. This means that the economic value of the positions, USD 5.3 million, will be realised during Q4 2018. The valuation is based on the companies' share of the difference between the cost of the period charter and the estimated income from these positions.

Sweden, 18/12/2018 (informazione.news - comunicati stampa - trasporti)

As anticipated, the stronger market has now materialised and the positions have a clear economic value. Concordia Maritime has today agreed with Stena Bulk to sell the shares in the above-mentioned period charters January 1 2019 to the end of the charter period. This means that the economic value of the positions, USD 5.3 million , will be realised during Q4 2018. The valuation is based on the companies' share of the difference between the cost of the period charter and the estimated income from these positions.

 says Kim Ullman .

Kim Ullman
CEO
Concordia Maritime AB
Tel: 46-31855003
Mobile: 46-704855003
Email kim.ullman@concordiamaritime.com 

Ola Helgesson
CFO
Concordia Maritime AB
Tel: 46-31-855009
Mobile: 46-704-855009
Email ola.helgesson@concordiamaritime.com

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http://news.cision.com/concordia-maritime/r/sale-of-positions-in-chartered-in-suezmax-vessels,c2703388

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