MARITIME TRANSPORT

Aries Maritime Transport Provides Update on the Bora

Aries Maritime Transport Limited announced that it has withdrawn the Bora, a 2000- built double-hull products tanker, from the vessel's charter with PDVSA, and is currently marketing the vessel for a new charter. Mons S. Bolin, President and Chief Executive Officer, commented, "Rates for products tankers remain firm and we are actively pursuing a new charter for the Bora in the international market. We remain committed to employing our vessels on period charters with leading charterers in order to provide shareholders with a stable revenue and dividend stream."

OECD Issues Report on Ownership and Control

The Maritime Transport Committee of the Organization for Economic Cooperation and Development (OECD) issued a report entitled Ownership and Control of Ships

Multiport Mourns a Loss

Multiport, the network of independent ship agents, is sad to announce the death of Mr Hylton Clarke, managing director of its Jamaican member, Maritime & Transport Services Ltd. Clarke was a leading member of the Jamaican shipping community, and the longest serving member on the managing committee of the Shipping Association of Jamaica. "He was a man of the greatest integrity, with a great sense of humour and enjoyment of life," said Multiport secretary-general Peter

Libya Acquires New Tankers

Libya Wednesday took delivery of three new oil tankers at its port hosting the Refining Company in Zaouia, as part of ceremonies marking the 37th anniversary of the country`s September 1969 Revolution. Baghdadi Mahmoudi, Secretary of the Libyan People`s General Committee took delivery of the three tankers - Ibn Batouta, Gardhabia and Intissar - new additions to the Libyan Maritime Transport Company`s fleet. The tankers built in South Korea by Samaho Hundai

U.K. Financial Assistance to Move Freight to Waterways

The UK Department for Transport issued its Consultation Document entitled Financial Assistance for Moving Freight from Road to Inland Waterway and Maritime Transport. The post-consultation response indicates broad support for grants to encourage increased use of waterways in lieu of roadways to transport freight in the U.K. Differences remain, however, with regard to detailed implementation.

Economic Effects of U.S. Import Restraints

The U.S. International Trade Commission issued a lengthy report entitled -The Economic Effects of Significant U.S. Import Restraints Third Update 2002 .The report reviews a variety of import restraints including the maritime cabotage laws. It concludes that eliminating the restriction on maritime transport and liberalization of the U.S. build requirement for vessels engaged in the coastwise trade would provide an economic benefit of $917

EU changes generate Tonnage Tax uncertainty

Leading shipping accountant and business consultant Moore Stephens say draft EU Guidelines on state aid to maritime industries are creating uncertainty and problems for the UK Tonnage Tax scheme. The new guidelines, which must be accepted by member states by June 30, 2004, and enter into force one year later, will oblige owners with fleets in the UK Tonnage Tax regime to increase the proportion of their vessels under an EU flag.

BMT Techmar Opening in Le Havre

As the leading French port for container traffic, has undergone recent and considerable expansion to increase its cargo handling capacity, with some 60% of all containers in the country being managed from its port terminals. This expansion will see a rise in maritime transport, which will further impact on inland navigation. With expectations of significantly increased brown water transport in the near future, has established an inland navigation program to enlarge the entire canal link

Aries Maritime Transport Limited Announces 3Q Results

Aries Maritime Transport Limited reported its financial results for the nine months ended September 30, 2007. Revenues of $23.2m were recorded for the three months ended September 30, 2007, compared to revenues of $26m recorded for the three months ended June 30, 2007. The decrease in revenues is primarily attributable to unscheduled out-of-service time related to the Ostria, a 2000-built double-hull products tanker, and scheduled out-of-service time related to the High Land

Dockwise Christens Super Ship in China

Dockwise Yacht Transport , a group company of Dockwise, recently merged with Sealift Ltd, has christened the largest and most modern yacht carrier in the world. The vessel has been built at the Yantai Raffles Shipyard in China. The 687.5-foot (209 meter) Yacht Express is purpose-built with a semi-submersible dock bay that allows yachts of any size to be safely floated on and off as cargo. Dockwise is considered the global leader in maritime transports of extremely large and heavy cargoes