Stena President Named

Friday, September 21, 2007
Concordia Maritime's product tanker Stena President - the fifth of ten tankers in the P-MAX series – was named today. The naming ceremony will be held at Brodosplit Shipyard out-side Split. After her delivery, the tanker will enter a 10-year charter with Argo Shipping and transport oil from e.g. ports in the Baltic Sea and around the White Sea to Europe and the US. The tanker's godmother will be Nataliya Popravko, wife of Sergey Popravko, the President of Unicom Management Services and COO of the Russian shipping company Sovcomflot. The master of the Stena President is Yashin Yuriy. A large number of international guests will attend the naming ceremony together with Hans Norén, President of Concordia Maritime, and Ulf G. Ryder, President and CEO of Stena Bulk. Brodosplit Shipyard will be represented by its president, Domagoj Klaric. The Stena President was launched in the second quarter of 2007 and will be delivered in the third quarter. Her sister, the Stena Primorsk, delivered in 2006, was also signed to a 10-year charter with Argo Shipping. The first P-MAX tanker was delivered in December, 2005, and delivery of the tenth unit is planned for 2010.

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