Delivery of Stena Penguin

Delivery of Stena Penguin

Concordia Maritime has taken delivery of the product tanker Stena
Penguin, which will enter into a 3-year charter with Glencore subsidiary
ST Shipping. The Stena Penguin is the ninth P-MAX tanker in a series of
ten tankers in the so-called P-MAX series ordered from the Croatian
shipyard Brodosplit.

In August, the Stena Penguin was named in a solemn ceremony in Split.
Barbara Walter, wife of shipbroker Gilbert Walter, who negotiated the
order with the shipyard, was the ship's godmother.

The two sister P-MAX tankers Stena Polaris, which was delivered in
February this year, and Stena Premium, which is set for delivery in the
beginning of 2011, have also been signed to 3-year charters with ST
Shipping.

The other eight tankers in the P-MAX series have all been signed to
charters of between three and ten years from delivery. The fleet
operates in different geographical markets all over the world,
transporting both light and heavy petroleum products as well as crude
oil.

The first P-MAX tanker was delivered in 2005 from Brodosplit Shipyard.
The tankers have double hulls, optimum corrosion control, two engine
rooms with full water and fire integrity and two separate propulsion
systems. Superior manoeuvrability and an integrated bridge layout
facilitate safe navigation in narrow channels. The Stena Penguin is the
second tanker in the series with ice class 1A.

Technical data for the P-MAX tankers:
Length: 183 m, breadth: 40 m, draft (design): 11.3 m, deadweight: 65,200
tons.

For more information, please contact:

Hans Norén, President
Phone: +46 31 85 51 01, Mobile: +46 704 85 51 01

Göran Hermansson, Financial Director
Phone: +46 31 85 50 46, Mobile: +46 704 85 50 46