STENA MARITIME AG acquires a 35% in Paradise Tankers - Oct 21, 2008

In 21st of October 2008, Stena Maritime AG - 100% subsidiary of Stena AB - has acquired a 35% stake in our holding company Paradise Tankers Corp. Paradise has assumed technical management of all vessels, whereas Stena Bulk was assigned the Commercial management of all tankers. All 3 panamax tankers owned by PTC have been delivered to Stena Sonangol Panamax Pool.

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