Concordia Maritime concludes new deal with oil and gas company for charter of two P-MAX product tankers

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| Source: Concordia Maritime AB
Concordia Maritime has just won a new contract with a major oil and gas company
for a consecutive voyage charter arrangement for the P-MAX tankers Stena
Provence and Stena Polaris. The agreement is for 6 months initially and will run
until the end of 2014.
"We are very proud to have concluded this deal and we are looking forward to
continuing to develop this growing trade with refined petroleum products into
the Asia Pacific with our business partner,” says Kim Ullman, CEO of Concordia
Maritime.

“Since January this year, we have adopted a more aggressive chartering strategy
to maximize the vessels’ superior earnings capacity, which is also the case with
this deal,” concludes Kim.

The P-MAX tankers are particularly well suited for this trade with their
extremely shallow draft design. Their LOA is 183 meters, the same as
conventional MR tankers, but they have a beam of 40 meters enabling them to lift
approx. 50,000 mt on 11 meters. They also have a fully redundant propulsion
system with two separate engines, steering machinery, rudders and propellers.

Technical data for Stena Provence and Stena Polaris:
Length: 183 m, beam 40 m, draft (design) 11.3 m, deadweight: 65,200 tons

Background:
Concordia Maritime owns a fleet of ten P-MAX and one Suezmax tanker and has two
IMO2MAX MR product tankers on order for delivery in 2014-2015.
Kim Ullman
CEO
Concordia Maritime AB

Tel: +46 31 855003
Mobile: +46 704 855003
E-mail: kim.ullman@concordiamaritime.com
Concordia Maritime is an international tanker shipping company. Our focus is on
cost-effective and safe transportation of refined petroleum products and
vegetable oils. The company’s B shares were admitted to trading on Nasdaq OMX
Stockholm in 1984. www.concordiamaritime.com