Concordia Maritime and Neste Oil sell their jointly owned tankers, Stena Poseidon and Palva

| Source: Concordia Maritime AB
Concordia Maritime and Finnish Neste Oil have reached an agreement on the sale
of the two jointly owned Ice Class 1A panamax tankers, Stena Poseidon and Palva.
The buyer is Transport Maritime St-Laurent Inc. and the tankers are expected to
be delivered in April/May 2014.
Stena Poseidon and Palva are panamax tankers with a deadweight of 75,000 tons
and were delivered from Brodosplit Shipyard in Split in 2007. They are jointly
owned by Concordia Maritime and Neste Oil. Both tankers have been signed to time
charters with Neste Oil since 2007.

“We are content to see this sale go through as it suits our strategic objective
of focusing on our spot operated P-MAX fleet. The sale will have a positive
result for Concordia Maritime and will be realized in the 2ndquarter”, says Kim
Ullman, CEO, Concordia Maritime.

Technical data for Stena Poseidon and Palva:

Length: 228 m, beam 32 m, draft (design) 12.2 m, deadweight: 75,000 tons
Kim Ullman, CEO

Tel: +46 31 855003

Mobile: +46 704 855003


Fredrika Walters

Tel +46 31 855102

Mobile +46 704 855102

Concordia Maritime is an international tanker shipping company. We focus on cost
-efficient and safe transportation of refined petroleum products and vegetable
oils. The company’s B shares were admitted to trading on Nasdaq OMX Stockholm in