Concordia Maritime has signed an agreement with Shell Tankers Singapore Private Ltd (Shell) covering the employment of the P-MAX tankers Stena Penguin and Stena Progress.

'Generally speaking, the product tanker market is developing well and in accordance with our planned fleet disposition. We are of course happy to have concluded this business', says Kim Ullman, CEO of Concordia Maritime.

The Stena Penguin (built in 2010) and the Stena Progress (built in 2009) are two of the ten P-MAX tankers in Concordia Maritime's fleet. The vessels have a double hull, two engine rooms with full water and fire integrity and two separate propulsion systems. Manoeuvrability and an integrated bridge layout are also very important when it comes to facilitating safe navigation in narrow channels.

Tags: Concordia Maritime, Shell