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Stena President News

03 Mar 2022

Concordia Maritime Sells Oil Tanker to Greek Buyer

Shipowner Concordia Maritime announced it has entered into a contract to sell the 2007-built oil tanker Stena President to a Greece-based shipping company.The 65,200 dwt P-MAX-vessel is scheduled to be handed over to its new owner in March 2022Concordia Maritime said the sale is expected to have a positive liquidity effect of approximately $0.6 million. The surplus will be used for accelerated amortization of bank debt. The price has been affected by the vessel being sold in an undocked condition and by a continuing low spot market. Stena President is due to have its scheduled 15-year special survey (drydock) in the third quarter of 2022."The weak tanker market during Q1 poses continued challenges for Concordia Maritime.

29 Nov 2014

Concordia Maritime Charters 2 P-MAX Tankers

Concordia Maritime signed time-charter contract for two P-MAX tankers and launched a pool with four vessels. The time-charter contracts are with Stena Bulk and cover the wholly owned Concordia Maritime tankers Stena Perros and Stena President, for one year each. The pool to be started up by Concordia Maritime and Stena Bulk will also include the P-MAX vessels Stena Penguin and Stena Primorsk for the same period of time. The four tankers will transport heavy petroleum products, primarily in the Atlantic market. “We are very pleased with the agreement and still believe in a stronger market in 2015, but we also want to balance our spot market exposure.

07 Nov 2012

Concordia Maritime - Interim Report 1

Interim Report 1 January-30 September 2012 •    Weak market during the quarter •    Stena Primorsk chartered out to new customer •    Another P-MAX tanker, Stena President, converted to IMO 3 Total income, SEK 417.1 million EBITDA, SEK 175.4 million Operating result before impairment, SEK 61.9 million Impairment, SEK -408.8 million Operating result after impairment, SEK -346.9 million Result after tax, SEK -365.7 million Result per share, SEK -7.66 EBITDA, USD 25.8 million Available liquid funds, SEK 570.4 million (including unutilized credit facilities)

30 Oct 2008

Concordia, Total Contract for VTA Turbo Technology

The turbochargers with VTA technology will equip the MAN B&W brand type 6S46MC-C low-speed engines aboard the new tanker, Stena Progress. On the basis of earlier trials, they are expected to reduce fuel consumption by around 2-3% with parallel reductions in exhaust emissions. “We are always interested in new energy saving technologies,” noted Hans Norén, President, Concordia Maritime. “When approached by MAN Diesel about employing VTA we decided right away that this was something we wanted to participate in. Stena Progress is a 65,200 DWT shallow-draught ice class tanker of the P-MAX type under construction for Concordia Maritime at the Brodosplit shipyard in , where the main engines will also be built under license.

17 Oct 2008

Concordia Maritime Specs New Turbochargers for Tankers

Concordia Maritime and French energy company Total have jointly taken the decision to install MAN Diesel turbochargers with the company’s new VTA variable turbine area technology aboard a new tanker. The turbochargers with VTA technology will equip the MAN B&W brand low speed engines aboard the new P-MAX tanker Stena Progress, which will be delivered June 2009. On the basis of earlier trials, they are expected to reduce fuel consumption by around 2-3% with parallel reductions in exhaust emissions. “We are always interested in new energy saving technologies,” noted Hans Norén, President, Concordia Maritime. ”When approached by MAN Diesel about employing VTA we decided right away that this was something we wanted to participate in.

21 Sep 2007

Stena President Named

tankers in the P-MAX series – was named today. be held at Brodosplit Shipyard out-side Split. from e.g. the US. company Sovcomflot. The master of the Stena President is Yashin Yuriy. together with Hans Norén, President of Concordia Maritime, and Ulf G. Ryder, President and CEO of Stena Bulk. represented by its president, Domagoj Klaric. delivered in the third quarter. in 2006, was also signed to a 10-year charter with Argo Shipping. tenth unit is planned for 2010.

21 Sep 2007

Stena President Named in Split

Concordia Maritime’s product tanker Stena President – the fifth of ten tankers in the P-MAX series – will be named today. The naming ceremony will be held at Brodosplit Shipyard out-side Split. After 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. The Stena President was launched in the second quarter of 2007 and will be delivered in the third quarter.