Concordia Maritime renews agreement with oil and gas company for charter of two P-MAX product tankers in the Asia-Pacific region

Concordia Maritime has just renewed its 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 will run until the summer of 2015.
“This is a testament to the fact that our P-MAX tankers make a major difference
when properly utilized. We are very pleased to be able to extend this charter,
which, alongside our business partner, we have long and successfully cultivated
in this region of the world,” says Kim Ullman, CEO of Concordia Maritime.

[image]Stena Provence

“We have been working hard throughout the year to implement a more assertive
charter strategy to maximize the strong earnings capacity of the vessels, which
is also the case within the framework of this agreement,” adds Kim Ullman.
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.

[image]Stena Polaris

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 2015.
For more information, please contact:
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. 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
1984. www.concordiamaritime.com