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Tanker Named in Stockholm

Maritime Activity Reports, Inc.

June 9, 2006

Concordia Maritime's Swedish-flagged product tanker Stena Primorsk, the third P-MAX tankers in a series of eight, will be named on 9 June. The total investment for the eight vessels amounts to SEK 2.4 billion. Transport economy, flexibility and further raising the safety level have guided the development work involving the P-MAX concept. The Stena Primorsk will transport mainly refined petroleum products on the Baltic Sea. The Stena Primorsk left the Brodosplit shipyard in Split, Croatia, on 10 May and arrived in Stockholm yesterday and is now moored in the Sound, below the Royal Palace, where she will stay until the afternoon of 10 June. With its exceptionally wide hull, the vessel can transport about 30% more cargo than a conventional product tanker, and at practically no extra cost. Additionally, the vessel can transport both crude and refined oil and rapidly switch between the two types of cargo. In addition to having mandatory double hulls, the P-MAX tankers 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. All these double systems can be operated independently of each other, which results in safer oil transportation.

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