Concordia Maritime

Capital/Financing Update • Nov 23, 2016

PRESS INFORMATION 23 November 2016

Agreements signed for the refinancing of the P-MAX ships

The excisting finance facility for the ten P-MAX ships will expire in June 2017. The company has now signed two separate and new agreements to refinance the ships. The total refinancing amount is MUSD 189, after financing costs the net amount is in line with outstanding debt from the excisting facility.

The first finance facility is done with a bank group consisting of Svenska Handelsbanken, BNP Paribas, DNB, Nordea, SEB and Swedbank. The facility is refinancing eight of the P-MAX ships and has a final maturity of five years, has a competitively priced margin and can be used to finance up to 67,5% of the ships fair market value. The facility has been co-ordinated by Handelsbanken Capital Markets.

The second agreement is done with Svenska Skeppshypotek. The facility is refinancing two of the P-MAX ships and has a final maturity of five year, has a competitively prices margin and can be used to finance up to 70% of the ships fair market value.

CFO Ola Helgesson says "We are happy to have finalized the refinancing of the P-Max ships at very competitive terms with relationship banks. This refinancing for the P-MAX ships in combination with the sale lease back deals for Stena Image and Stena Supreme give the company a solid financial platform to develop its business from."

For more information, please contact: Kim Ullman Ola Helgesson CEO, Concordia Maritime AB CFO, Concordia Maritime AB Tel +46 31 855003 Tel +46 31 855009 Mob +46 704 855003 Mob +46 704 855009

Email: kim.ullman@concordiamaritime.com Email: ola.helgesson@concordiamaritime.com

Concordia Maritime is an international tanker shipping company. Our focus is on cost-effective and safe transportation of refined petroleum products and vegetable oils. The Company's B shares were first listed on Nasdaq Stockholm in 1984. www.concordiamaritime.com

The information in this press release is information that Concordia Maritime Aktiebolag (publ) is required to disclose in accordance with the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 14:00 on 23 November 2016.