Sweden-based Concordia Maritime continues to put cash in the bank completing a second sale and leaseback agreement this month, this time for suezmax tanker Stena Supreme.

Concordia says it sold the suezmax to one of Japan's largest ship owning companies, chartering the vessel back on a 12-year bareboat charter with annual purchase options from the third year onwards.

The transaction, scheduled for late November, is worth US$22m giving Concordia an accounting profit of around US$1.8m.

Kim Ullman, CEO of Concordia Maritime, commented, "We are very happy with the agreement. It's a good price, while the leaseback arrangement means that we can continue employing Stena Supreme in the successful Stena Sonangol Suezmax pool for many years to come."

Earlier in the month, Concordia signed a US$37.5m sale and leaseback deal for MR chemical/product tanker Stena Image.