Concordia Maritime

Regulatory Filings • Oct 21, 2010

PRESS RELEASE

21 October 2010

Delivery of Stena Penguin

Concordia Maritime has taken delivery of the product tanker Stena Penguin, which will enter into a 3-year charter with Glencore subsidiary ST Shipping. The Stena Penguin is the ninth P-MAX tanker in a series of ten tankers in the so-called P-MAX series ordered from the Croatian shipyard Brodosplit.

In August, the Stena Penguin was named in a solemn ceremony in Split. Barbara Walter, wife of shipbroker Gilbert Walter, who negotiated the order with the shipyard, was the ship's godmother.

The two sister P-MAX tankers Stena Polaris, which was delivered in February this year, and Stena Premium, which is set for delivery in the beginning of 2011, have also been signed to 3-year charters with ST Shipping.

ifferent The other eight tankers in the P-MAX series have all been signed to charters of between three and ten years from delivery. The fleet operates in d geographical markets all over the world, transporting both light and heavy petroleum products as well as crude oil.

The first P-MAX tanker was delivered in 2005 from Brodosplit Shipyard. The tankers have double hulls, optimum corrosion control, two engine rooms with full water and fire integrity and two separate propulsion systems. Superior manoeuvrability and an integrated bridge layout facilitate safe navigation in narrow channels. The Stena Penguin is the second tanker in the series with ice class 1A.

Technical data for the P-MAX tankers:

Length: 183 m, breadth: 40 m, draft (design): 11.3 m, deadweight: 65,200 tons.

For more information, please contact: Hans Norén, President Phone: +46 31 85 51 01, Mobile: +46 704 85 51 01

Göran Hermansson, Financial Director Phone: +46 31 85 50 46, Mobile: +46 704 85 50 46

www.concordiamaritime.com