Conversion Project By Concordia Maritime Goes On Hold

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Swedish tanker player Concordia Maritime has decided to put it’s pioneering boxship conversion project on hold, says an article published in Splash 247.

Container Transportation Joint Venture 

Earlier this year during container shipping’s record earnings run, Concordia Maritime launched a technical design study together with Stena Teknik and a German consulting company to investigate the feasibility of converting and adapting a P-MAX product tanker for container transportation.

Malcom Mclean

While dry bulk carriers have been seen carrying containers over the past year, a tanker repurposed to carry boxes is something not seen since the advent of containerisation by Malcom Mclean 66 years ago.

Shelved Project

Containers on tankers are unlikely to be seen anytime soon however with Concordia revealing its project has been shelved.

Economic Stress

“The technical study shows that it is technically feasible to convert P-MAX vessels into 2,100 TEU container vessels, but the increasing economic uncertainty has made it difficult to reach an agreement with an end customer,” the company stated in an earnings update, going on to stress that Concordia would “leave no stone unturned” in its efforts to increase both the return and value from its vessels wherever possible.

A 66 Year Old Conversion

Back in 1956 Malcom McLean bought two World War II T-2 tankers, which he converted to carry containers on and under deck ushering in the seaborne container trades era.

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Source: Splash 247

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