Press release Second P-MAX tanker delivered with Green Passport

Today, Concordia Maritime took delivery of the second P-MAX tanker, Stena Provence, from the Brodosplit shipyard in Croatia. Like her sister ship delivered earlier, the Stena Provence has been time-chartered to the French oil company TOTAL for five years.

All the P-MAX tankers built are certified with a so-called Green Passport by the classification society DNV. Green Passport means that all hazardous materials on board the ship are identified and documented. With this certification, which is voluntary, the company is acting proactively in the event of future mandatory regulations as well as recommendations relating to ship recycling. The certification is the result of close cooperation with the yard and the classification society DNV. “For Concordia Maritime, certifying newbuildings with Green Passport is logical as well as being completely in line with the MAX concept’s environmental and safety approach”, says Hans Norén, President Concordia Maritime AB. Concordia Maritime is an international tanker shipping company listed on the O List on the Stockholm Stock Exchange. In 2003, six vessels, which are being built in accordance with the MAX concept, were ordered. These vessels, P-MAX, are product tankers of about 49,900 dwt. The MAX concept means that the vessels are designed for maximum loading capacity in shallow waters. In addition to having mandatory double hulls, 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. In 2004, two Panamax tankers of about 75,000 dwt, in which the company has a 50 per cent share, were ordered. All the six vessels on order will be delivered over a 2-year period from the end of 2005. Concordia Maritime also has two VLCCs, each 313,000 dwt, on time charter for five years. These vessels, V-MAX, which were taken into service in 2001, were originally built for Concordia and are the first vessels built in accordance with the MAX concept. INNOVATION AND PERFORMANCE Our mission is to generate a profit by providing our customers with safe, cost-efficient tanker transportation based on innovation and performance. CONCORDIA MARITIME AB (publ) Gothenburg 10 March 2006 Hans Norén Tel +46 31 855101, +46 704 855101 www.concordia-maritime.se