3 months report

4/17/2000 6:26 AM EST

INTERIM REPORT FOR CONCORDIA MARITIME AB (publ) 1.1 - 31.3 2000

¤ Continued weak freight market in first quarter
¤ Result after financial net SEK -32.7 (10.7) million
¤ OPEC raises oil production again
¤ Freight rates rose to profitable levels in March
¤ Continued high scrapping rate. 16 (10) VLCCs scrapped
¤ Continued good ship operation with high quality at low costs
¤ V-MAX project proceeding according to plan

Result
The Group's first-quarter result after financial items was SEK -32.7
(10.7) million. Sales
totalled SEK 203.9 (217.8) million. The result per share was SEK -1.10
(0.56) after tax,
which is equivalent to SEK -0.54 (0.40) after full conversion.
Net worth and shareholders' equity
Net worth per share after full conversion is estimated to be SEK 24.55
(27.49) based on

the appraisal carried out by three independent shipbrokers on 30-11-1999.
Shareholders'
equity per share amounted to SEK 19.37 (21.15). The SEK/USD exchange rate
was 8.67
(8.30) on 31-03-2000.

Liquidity and investments
On 31-03-2000, the Group's disposable liquid funds, including unutilised
credit
facilities, amounted to SEK 629.0 (31-12-1999: 699.9) million.
Investments during the period amounted to SEK 25.4 (5.5) million,
consisting of
payments relating to the two Stena V-MAX VLCCs.