Financial Statement

Concordia Maritime AB (publ) 1 January – 31 December 2006

Profit after tax SEK 51.9 (57.2) million, including profit of SEK 0.0 (56.2) million on the sale of ships and exchange rate differences of SEK 4.3 (-52.6) million

Due to a court ruling non-recurring cost of approx. MSEK 30 has affected the result

Profit per share after tax: SEK 1.09 (1.20)

Fourth quarter profit after tax SEK 3.9 million (21.7 million, including profit of SEK 2.9 million on the sale of ships)

Fourth quarter profit per share after tax: SEK 0.08 (0.45)

Net sales, full year: SEK 381.2 (254.0) million; net sales, fourth quarter: SEK 124.8 (60.5) million

Proposed dividend: SEK 1.00 (1.00) per share

Forecast for 2007: SEK 80 million before tax, corresponding to SEK 1.67 per share

An additional four P-MAX vessels have been ordered during the year

About Us

Concordia Maritime is an international shipping company. Our focus is on the cost-efficient and safe transportation of refined petroleum products and edible oils. The series B-share has been listed on Nasdaq Stockholm since 1984. www.concordiamaritime.com

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