Concordia Maritime renews contract for P-MAX vessels

Concordia Maritime has renewed a contract with an international oil and gas
company for 12 months for two vessels. The contract also includes an additional
vessel for six months.
The renewed contract relates to three P-MAX vessels: Stena Paris, Stena Provence
and Stena Polaris.

"It's obviously very positive to achieve the renewed confidence of this
customer, which has specific transport requirements that suits the high cargo
capacity of our P-MAX vessels, which results in a lower actual cost per unit.
The contract is fully in line with our efforts to steer employment towards niche
trades that can optimally utilise the P-MAX vessel's unique characteristics,"
says Kim Ullman, CEO of Concordia Maritime.

On Concordia Maritime’s outlook for the quarter, he said:

"Just as previously predicted, we can now see a seasonal slowdown in the second
half of the third quarter. This is from high levels, however, and we do not
think the decline will be as deep and prolonged as seen in recent years. Our
basic market outlook as from the fourth quarter is therefore still positive,"
says Kim Ullman.
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