Stena Bulk Reports That Russian Oil Distribution to More Than Double - VIDEO STORY

PRIMORSK, Finland - March 29, 2007: As the Primorsk port in the Gulf of Finland grows to become a global oil terminal, companies like Stena Bulk look to invest additional tankers routed to this area. Since the new port was built in 2001, oil exports have increased from 12 million tons to 65 million tons in 2006.

Industry officials say the goal for the area is to expand this number to 150 million tons per year. To help fulfill this objective, Russian President Vladimir Putin has ordered new pumps and pipe systems to be built. Plans are also underway to expand the port so it can serve ships that are more than 200,000 tons. Due to the port’s future capacity, Stena Bulk, an oil tanker company responsible for 15 percent of exports from Primorsk in 2006, plans to build a new type of tanker specifically for Baltic traffic.

About Stena Bulk
Stena Bulk operates about 71 tankers totalling approx. 6.6 million tons deadweight. The company is part of the Stena Sphere, which has 15,000 employees in Sweden and abroad. Stena Bulk has full management responsibility for the listed company Concordia Maritime's fleet.