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Concordia, Total Contract for VTA Turbo Technology

Maritime Activity Reports, Inc.

October 30, 2008

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. It has been tested onboard our ship Stena President with very positive results and, as a consequence, we and our customer Total have decided to install VTA turbochargers onboard the Stena Progress.”

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. The tanker is due for delivery in June 2009 and will be chartered toTotal for 5 years. MAN Diesel type TCA55V turbochargers – the “V” suffix denotes the inclusion of variable turbine area technology – will be used on both the six-cylinder 6S46MC-C low-speed main engines aboard the Stena Progress and other P-MAXs. MAN Diesel noted that the results of field testing aboard the Stena President were closely monitored and exceeded expectations, leading Concordia Maritime to the decision to equip the engines of other P-MAXs with VTA turbochargers.

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