Concordia evaluates tanker to containership conversion

Concordia’s P-MAX tankers are wider MR tankers designed to operate in shallower waters than a standard MR; it has nine of the vessels which were delivered between 2005 and 2011 and are between MR and Panamax in cargo capacity.

A German consulting company and Stena Teknik will help Concordia with the ship design, including preparation for basic design class approval.

Container lines have reported record profits in recent months as disruption and delay have effectively tightened vessel supply, driving up freight rates. The difference in fortune was enough to drive bulker owners last year to explore the possibility of carrying containers on dry bulk vessels.

While the box sector has enjoyed record profits, the tanker market has generally struggled since the pandemic as oil and product demand took a hit during lockdowns and trade flows were disrupted.

Concordia said initial assessments put its P-MAX vessels’ container capacity at around 2,11 teu when their engines and dimensions are taken into account. The technical design study is expected to be completed by the end of the second quarter, which would need to be followed by discussions with yards. A conversion is expected to take three to five months.

“It should be stressed that there are a number of technical and market challenges to convert and adapt P-MAX tankers to container ships and there is therefore a risk that the study will lead to that the project will not be concluded,” the company said in a statement.

Related:Carrying containers on a bulker – what the experts say