New Marine Engineering/Management Company Formed

Universe Tankships (Delaware) LLC, a company based in New York, is pleased to announce the formation of its new company, "Universe Ships Inc." with principal offices located in Houston. Universe Tankships (Delaware) LLC is owned by Concordia Maritime, a company controlled by the Stena group of companies in Sweden.

Universe Ships Inc. will offer marine asset development, ship construction, management and engineering services to local, national and international customers. "Our business model adds a higher level of value by leveraging the combined strength of the organization in marine design, construction and operations experience worldwide. Through this value-added relationship, each of our customers and alliance partners will benefit in accomplishing their energy and marine transportation related goals. Universe Ships Inc. will specialize in highly focused, customized solutions designed to fit individual client's needs. Our principal goals are simple, to increase corporate wealth for our customers, add value for our shareholders, demonstrate our commitment to our employees, and promote superior relationships with our suppliers," states Jim Rohr, president of Universe Ships Inc.

"We are delighted to create and support Universe Ships as it moves forward in the marketplace," says Claes Davidsson, president of Universe Tankships (Delaware) LLC. "The domestic and foreign shipping and transportation sector, in conjunction with energy market expansion, has increased the demand for value-added solutions. The timing is excellent, and we are very confident in our ability to reach old and new customers alike with streamlined and focused solutions."

Universe Ships Inc. is principally located in Houston and is a quality provider of marine engineering, consulting and operations services.