Delivery of P-MAX Stena Progress from Brodosplit

Delivery of P-MAX Stena Progress from Brodosplit

Yesterday Concordia Maritime took delivery of the product tanker Stena Progress
from Brodosplit Shipyard, Croatia. The vessel has been signed to a 5-year time
charter with the French oil and energy company Total to transport refined
products. 

The Stena Progress, a so-called P-MAX tanker, is the seventh in a series of ten
units ordered. She was named on 3 September at Brodosplit.


The sister vessels Stena Paris, Stena Provence and Stena Perros are all on long
time charters to Total.  In all, Total has four of ten P-MAX tankers on time
charters* with a remaining charter period of 14 years as of today. 

* Time charter = The shipping company charters out its ships complete and crewed
for a payment based on a certain sum per day. The party chartering the ship pays
for bunker and port fees.	

The P-MAX tankers have the following technical data: 
Length: 183 m, breadth: 40 m, draft (design): 11.3 m, 
deadweight: 65,200 tons.

Hans Norén	
President	
Direct +46 31 855101	
Mobile +46 704 855101

Göran Hermansson
Financial Manager
Direct +46 31 855046
Mobile +46 704 855046

Concordia Maritime is an international tanker shipping company listed on the OMX
Nordic Exchange in Stockholm. The company has ten tankers built in accordance
with the MAX concept, of which seven are delivered and the remaining three will
be delivered in 2009/2010. 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