Stena President delivered from Brodosplit

Stena President delivered from Brodosplit

Concordia Maritime's product tanker Stena President will be delivered from
Brodosplit Shipyard in Croatia today. The tanker will enter a 10-year charter
with the Russian company Argo Shipping and transport refined products from the
Baltic Sea and the White Sea to Europe and the US. The Stena President, a
so-called P-MAX tanker, is the fifth in a series of ten units ordered. The Stena
President was named last Friday at Brodosplit Shipyard outside Split.

The first P-MAX tanker was delivered in December, 2005, and delivery of the
tenth unit is planned for 2010. The Stena President's sister, the Stena
Primorsk, delivered in 2006, was also signed to a 10-year charter with Argo
Shipping. The Stena Performance has been chartered by US company Hess for
traffic between the Caribbean and the US East Coast and French TOTAL has
chartered four P-MAX tankers (two of which have been delivered). Employment has
yet to be found for three of the tankers to be delivered in 2009-2010.

The P-MAX tankers have the following technical data: Length: 183 m, breadth: 40
m, draft: 18 m, deadweight: 65,200 tons and cargo volume: 68,900 m³.

For further information, please contact:
Hans Norén			
President, Concordia Maritime AB (publ)	
Mobile: +46 704 85 51 01
Göran Hermansson
Financial Manager, Concordia Maritime AB (publ)
Mobil: +46 704 85 50 46

Concordia Maritime is an international tanker shipping company listed on the
Nordic Exchange. The company has ordered ten tankers, which are being built in
accordance with the MAX concept. These vessels, P-MAX, are product tankers of
about 65,200 dwt. The MAX concept means that the vessels are designed for
maximum loading capacity in shallow waters. They have been designed according to
a new concept for safer oil transportation with double main engines in two
completely separate engine rooms, double rudders and steering gear, two
propellers and double control systems. www.concordia-maritime.se.

Argo Shipping is a recently established  logistics company, which is active in
the Russian oil export market. It transports refined products from ports in the
Baltic Sea and around the White Sea to Europe and the US.