Concordia Maritime/Stena Bulk: Concordia Maritime and Stena Bulk Win Prestigious Award.

STOCKHOLM, Sweden -- At VEaRLDSJEuFARTENS DAG (World Shipping Day) in Gothenburg, today, Concordia Maritime (STO:CCORB) and Stena Bulk will be awarded SjEfartsforum's Environmental Diploma for Stena's in-house developed MAX vessels. The prize will be handed over at a ceremony at the Concert Hall under the heading "100 years of technical innovations".

The jury's motivation:

"Innovative thinking and responsibility characterise Stena Bulk/Concordia Maritime. They have been awarded SjEfartsforum's Environmental Diploma in 2006 for the development and construction of the P-MAX tankers. Doubling the majority of their functions results in an unsurpassed level of safety and manoeuvrability among the world's tankers, which benefits the environment. The sharply increasing volume of tanker traffic in the Baltic Sea is a challenge. The sensitive Baltic Sea is well served by these new vessels, with their well-trained crews, deployed by Stena Bulk/Concordia Maritime."

"We are proud and grateful to receive SjEfartsforum's Environmental Diploma for our Stena P-MAX design. Just safety has been exceptionally important in the development of the concept, which, incidentally, was carried out in collaboration between our customers and our skilled engineers at Stena Teknik. The P-MAX tankers have also been a commercial success and are appreciated for their safety aspects and cost effectiveness", says Ulf G. Ryder, President of Stena Bulk AB.

"Concordia Maritime has so far invested SEK 3.3 billion in the P-MAX program, which is an important platform for our long-term and strategic development. Today, our fleet consists of ten P-MAX tankers. Four P-MAX tankers are currently in service and a further six are on order for delivery up until the end of 2010. Effective transport economy has been the guiding principle in the development of the P-MAX concept. As a result, the vessels have an exceptionally wide hull enabling them to transport about 30% more cargo than a conventional product tanker. At the same time, the P-MAX tankers, with most of their functions doubled, have built-in proactive safety", says Hans Noren, President of Concordia Maritime AB (publ).

Stena P-MAX design The P-MAX tanker is a product tanker of about 65,200 DWT. 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.

Green Passport All the P-MAX tankers are certified with a Green Passport by DNV (Det norske Veritas). Green Passport certification is voluntary and means that all hazardous materials used in the construction of the vessel are identified and documented. With this certification, which is voluntary, Concordia Maritime are acting proactively prior to any future regulations and recommendations concerning ship recycling.

SjEfartsforum SjEfartsforum's main function is to promote shipping's interests within the framework of its charter. This is achieved by the interested parties in shipping collaborating in the forum and prioritising issues where joint action is a key to success. SjEfartsforum also promotes shipping as a natural component of an environmentally friendly, safe and cost-effective transport solution.

Guidelines for the diploma SjEfartsforum's board decides who will be awarded the diploma for commendable work done to reduce the environmental impact of shipping. The diploma has been awarded once a year since 1996. The recipient can be an individual, organisation, authority, company or association. See the appendix for previous winners.

Previous winners Co In 1996, AssidomEnn was awarded the diploma for its work on reducing the sulphur content in the bunker oil burned by the vessels in its transport system.

Co In 1997, Ports of Stockholm was awarded the diploma for having introduced an environmental rebate for the oil companies. The oil companies are rewarded if they utilise the best tonnage from an environmental perspective.

Co In 1998, Wallenius Lines was awarded SjEfartsforum's Environmental Diploma for introducing a well thought-out and active environmental policy on board and ashore. The company has set up clear environmental objectives, informed and motivated its employees and the whole organisation is focused on reaching these objectives. The environmental objectives both exceed by a wide margin international and national environmental requirements and promote safety at sea.

Co In 1999, the Swedish Forest Industries Federation's Transport Committee was awarded SjEfartsforum's Environmental Diploma for having taken the initiative for numerous improvements in the environment for the forest industry's transportation, in particular sea transport. Among other things, they have reduced their sulphur emissions by 70% since 1997 at the same time as emissions of nitrogen dioxides are decreasing.

Co In 2000, the M/S Birka Princess was awarded SjEfartsforum's Environmental Diploma for being a worthy representative of all ferry shipping to and from Sweden. The environmental work carried out on the ferries is vital if we in Sweden are to be able to reach the goal of reducing shipping's emissions by 75%.

Co In 2001, two candidates in the logistic chain for oil received the award. Ulf Holmberg, Master Mariner, for his work, which has sharply reduced tank cleaning on product tankers. The Port of Gothenburg was also awarded for being the first oil port in Europe where petroleum products were loaded using gas recovery.

Co In 2002, the Environmental Diploma went to Kaj Jansson, technical director, Viking Line. He saw the potential of the HAM technology at an early stage and, as a result of his dedicated work together with other players, enabled it to be applied in the marine field. There has been considerable international interest and Kaj Jansson's work promises well for the future.

Co In 2003, the diploma was not awarded.

Co In 2005, Stora Enso was awarded the Environmental Diploma for having developed a new transport system containing a number of environmentally friendly solutions. For sea transport, the company utilises ships, fitted with catalytic converters, which can obtain their electricity from a shore-based connection when in port. They also burn low-sulphur oil. Stora Enso has sought out and applied in a pragmatic way the optimum technology at every stage of the logistic chain.

Co In 2005, Waxholmsbolaget was awarded the Environmental Diploma for a genuine and well-thought out approach in the case of its three new ferries SEderarm, DalarE och Sandhamn. With these three ferries, environmental friendliness in public transport in the archipelago has taken a giant step forwards. This benefits both the surrounding environment and the passengers.

Concordia Maritime is an international tanker shipping company listed on the Nordic Exchange. The company has ordered ten tankers, which are being built in accordance with the MAX concept, were ordered. These vessels, P-MAX, are product tankers of about 49,900 dwt. The MAX concept means that the vessels are designed for maximum loading capacity in shallow waters. They 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. www.concordia-maritime.se.

Stena Bulk - With offices in five countries, Stena Bulk is one of the world's leading tanker shipping companies. We supply our customers with innovative solutions to satisfy their transportation and logistics requirements via, among other resources, our own design department. The company has a controlled fleet of about 70 tankers and is active in all the segments of the tanker market. Stena Bulk also has the marketing and operative responsibility for Concordia Maritime's whole fleet. Stena Bulk is a company in the Stena Sphere, which has more than 15,000 employees and a turnover of SEK 36 billion www.stenabulk.com.

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