Concordia Maritime orders two new tankers

Concordia Maritime has signed a contract with Guangzhou Shipbuilding
International (GSI), China for the delivery of two chemical parcel tankers of
approx. 50,000 dwt at the end of 2014/beginning of 2015. The investment amounts
to around SEK 550 million and the intention is to employ the vessels in the open
market via its partner Stena Weco.
The vessels are part of a series of six tankers designed by Stena Weco and Stena
Bulk and developed by Stena Teknik together with GSI. During the development
work, the focus has been on energy efficiency and cargo flexibility.

“The vessels’ design and performance are impressive and GSI is a leading Chinese
shipyard, which builds very good vessels. Our intention is to employ the vessels
in the open market via our partner Stena Weco, which is successful in the
segment for transportation of refined oil and vegetable oils.

This is a natural development for us, investing in vessels with very good fuel
efficiency and cargo capacity that will be employed in the segment where our
main focus lies and which has good growth potential. We believe that the timing,
as regards shipbuilding prices, is also right”, says Hans Norén.

Stena Weco is a joint venture between Stena Bulk and Danish Dannebrog, which was
formed a little over a year ago. Its activities are managed from offices in
Copenhagen, Singapore and Houston.
Hans Norén, President
Tel 46 31 855101
Mobil 46 704 855101
www.concordiamaritime.com
Concordia Maritime is an international tanker shipping company. The company´s
focus is on the cost-efficient and safe transportation of refined petroleum
products and vegetable oils. Its Series B share has been listed on Nasdaq OMX
Stockholm since 1984.  www.concordiamaritime.com