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Concordia Maritime: Stena Supreme named in South Korea

Press release published at The Swedish Wire
Concordia Maritime's Suezmax tanker Stena Supreme was yesterday  named at a ceremony at the Samsung Heavy Industries shipyard in Geoje, South Korea. The tanker is a third generation, fuel-efficient Suezmax and will be employed in the open market via the Stena Sonangol Suezmax Pool. She is expected to be delivered shortly.

The Stena Supreme's godmother is Marie Eriksson, a lawyer and daughter of Madeleine Olsson Eriksson, one of three owners of the Stena Sphere together with Dan Sten and Stefan Olsson and Bert Åke Eriksson, President of Stena Sessan, the principal owner of Concordia Maritime. A large number of international guests attended the ceremony, including Hans Norén and Carl-Johan Hagman, President and Chairman of the Board, respectively, of Concordia Maritime. The master of the Stena Supreme is Captain James McBride.

Together with Samsung Heavy Industries (SHI), Stena Teknik has been responsible for the development of the new ship model, where the focus has been on energy efficiency. The vessel's technical equipment and design mean that fuel consumption can be reduced by up to 10-15 percent compared with standard tonnage.

"The vessel's design and performance are impressive and Samsung Heavy Industries is a leading quality shipyard. We intend to employ the vessel in the open market via the successful pool collaboration between Stena Bulk and Sonangol, the state-owned Angolan oil company", says Hans Norén.

The Stena Supreme is the fifth in a series of seven units, each representing an investment of just under SEK 500 million, designed by Stena Bulk and ordered in March 2010.

The Stena Sonangol Suezmax Pool is controlled by Stena Bulk and the Angolan state-owned oil company Sonanagol. Since it was established in 2005, the pool has generated better revenues than other competing pools. This year, plans are in place for an expansion to a total of 30 Suezmax tankers, the majority of which will be new and efficient. Stena Bulk's offices in Houston, Rio de Janeiro and Singapore are responsible for the operation and chartering of the vessels in the pool.

+-------------------------------------------------------------+
|Technical data for the Stena Supreme: |
|Length: 274 metres, Beam: 38 metres, Deadweight: 158,700 tons|
+-------------------------------------------------------------+

For further information, please contact:
Hans Norén
President, Concordia Maritime AB (publ)
Mobile: +46 704 85 51 01

Concordia Maritime is an international tanker shipping company. The company's focus is on cost-effective and safe transportation of refined petroleum products and vegetable oils. The company's Series B share has been listed on Nasdaq OMX Stockholm since 1984. www.concordiamaritime.com



This information was distributed by Cision
 

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