Stena President named in Split

Stena President named in Split

Concordia Maritime's product tanker Stena President - the fifth of ten tankers
in the P-MAX series - will be named today. The naming ceremony will be held at
Brodosplit Shipyard out-side Split. After her delivery, the tanker will enter a
10-year charter with Argo Shipping and transport oil from e.g. ports in the
Baltic Sea and around the White Sea to Europe and the US.

The tanker's godmother will be Nataliya Popravko, wife of Sergey Popravko, the
President of Unicom Management Services and COO of the Russian shipping company
Sovcomflot. The master of the Stena President is Yashin Yuriy. 

A large number of international guests will attend the naming ceremony together
with Hans Norén, President of Concordia Maritime, and Ulf G. Ryder, President
and CEO of Stena Bulk. Brodosplit Shipyard will be represented by its president,
Domagoj Klaric.

The Stena President was launched in the second quarter of 2007 and will be
delivered in the third quarter. Her sister, the Stena Primorsk, delivered in
2006, was also signed to a 10-year charter with Argo Shipping.

The first P-MAX tanker was delivered in December, 2005, and delivery of the
tenth unit is planned for 2010.

Technical data for the P-MAX tankers
Length: 183 m		
Breadth: 40 m
Draft: 18 m
Deadweight: 65,200 tons
Cargo volume: 68,900 m³

The MAX concept
The tankers built in accordance with the MAX concept are characterised by good
economy, high flexibility and a high level of safety. Their wider hull design
means that they can load about 30 per cent more cargo without their draft being
affected. In addition to having mandatory double hulls, the vessels have double
main engines in two completely separate engine rooms, double rudders and
steering gear, two propellers and double control systems. All these double
systems can be operated independently of each other, which result in even safer
oil transportation. 

Ice class 1B
Swedish ships are built in accordance with joint Finnish and Swedish ice class
regulations. The Stena Primorsk and Stena President have been built in
accordance with Ice Class 1B regulations, which is considered necessary as they
are planned for service in e.g. the Baltic Sea. Ice class 1B means that a vessel
can sail at a speed of five knots in a channel with 0.6 metre thick ice in
waters where moderate amounts of ice occur and where vessels with no ice class
are excluded.


For further information, please contact:

Hans Norén			
President, Concordia Maritime AB (publ)	
Mobile: +46 704 85 51 01		

Göran Hermansson
Financial Manager, Concordia Maritime AB (publ)
Mobil: +46 704 85 50 46