Concordia Maritime has completed the IMO III upgrade of two of its P-MAX tankers to chemical class III, meaning that the vessels are now also able to transport vegetable oils, in addition to refined petroleum products and crude oil.
The upgraded vessels are the 'Stena Performance', redelivered from her time charter at the end of June, and the latest addition to Concordia's fleet, the 'Stena Premium', delivered from the shipyard in June. An IMO III upgrade means that the vessels have increased flexibility in the market and can spend more days laden than in ballast.
The 'Stena Performance' has been employed on the open market since July, with operations handled by Stena Weco, a joint venture between Stena Bulk and Danish Weco, a company specialised in transporting vegetable oils. The 'Stena Premium' is on a three-year time charter to ST Shipping.