GOTHENBURG, Sweden, August 15, 2003 (PRIMEZONE) -- INTERIM REPORT FOR CONCORDIA MARITIME AB (publ) 1 JANUARY-30 JUNE, 2003
* Result after financial net SEK 60.8 (-86.0) million - SEK 1.43 (-1.83) per share
* A strong market at the beginning of the year weakened towards the end of the period
* Continued safe and cost-efficient ship operation
* Operations are expected to generate a small loss during the second half of the year. Forecast for the full year after financial net: SEK 50 million (SEK 1.05 per share)
* Equity per share: SEK 23.33. Share price: SEK 13.00.
* Order for four P-MAX product tankers placed in July. Delivery in 2005/2006.
* New Concordia created with a uniform fleet of new shallow-draught MAX tankers
Further information may be obtained from:
Lars Carlsson, President tel.+46 31 85 50 03 or +46 704 85 50 03 Hans Noren, tel.+46 31 85 51 01 or +46 704 85 51 01 Executive Vice President Jonas Kamstedt tel.+46 31 85 50 80 or +46 704 85 50 80
Gothenburg, 13 August 2003
CONCORDIA MARITIME AB
Lars Carlsson VD
Concordia Maritime is an international large-tanker shipping company, which owns two new 314,000 dwt VLCCs delivered in 2001 and two VLCCs of about 270,000 dwt built in the mid-1970s. The new vessels, Stena V-MAX, in addition to having mandatory double hulls, were built according to a completely new tanker concept for safer oil transportation with double main engines in two completely separate engine rooms, double rudders and steering gear, two propellers and double control systems. In July, this year, a further four vessels, which will be built in accordance with the MAX concept, were ordered. These vessels, Stena P- MAX, are product tankers of about 49,900 dwt and will be delivered around the end of 2005. All the vessels are built to very high specifications as regards both customer satisfaction and lifespan. The quality of the vessels and the management and manning organisations is documented by quality certificates from Det Norske Veritas and the American Bureau of Shipping.
INNOVATION AND PERFORMANCE
Our business concept is to provide our customers with safe, cost- effective tanker transportation based on innovation and performance
This information was brought to you by Waymaker http://www.waymaker.net
The The full report is available for download:
http://www.waymaker.net/bitonline/2003/08/15/20030815BIT00560/wkr0001.doc
http://www.waymaker.net/bitonline/2003/08/15/20030815BIT00560/wkr0002.pdf