Delivery of sold vessel and continued review of the fleet

In accordance with the existing bank agreement, the surplus from the sale of Stena Primorsk has been used for accelerated amortization of loans. In total, after deducting costs related to the sale, app. 19 MUSD have been used for accelerated repayment of loans. After the sales of the other two product tankers have been completed, the total interest-bearing liabilities are expected to be reduced by a further app. USD 36 million. In accordance with the existing bank agreement, the surplus from...

GOTHENBURG, Sweden, 01/12/2022 (informazione.news - comunicati stampa - trasporti)

In accordance with the existing bank agreement, the surplus from the sale of Stena Primorsk has been used for accelerated amortization of loans. In total, after deducting costs related to the sale, app. 19 MUSD have been used for accelerated repayment of loans. After the sales of the other two product tankers have been completed, the total interest-bearing liabilities are expected to be reduced by a further app. USD 36 million .

, says Erik Lewenhaupt , CEO of Concordia Maritime.

Since the beginning of the year, the asset values of the ships have risen, in some cases by over 50 percent. For older ships, the increase has been even bigger in percentage terms. After the sale of the three ships, the review of the remaining vessels in the fleet continues. All with the aim of maximizing the value of the company's assets.

 says Erik Lewenhaupt .

Erik Lewenhaupt
CEO, Concordia Maritime AB
+46 704 855 188
erik.lewenhaupt@concordiamaritime.com

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