Aries Maritime Takes Delivery of Tanker

Monday, June 19, 2006
Aries Maritime Transport Limited announced it has taken delivery of the second of two new products tankers it acquired from the Stena Group. Upon delivery, the 72,750 dwt 2006-built double-hulled Panamax products tanker entered into a 2.5 year bareboat charter agreement with the Stena Group at a rate of $18,700 per day, which is equivalent to a time charter rate of approximately $24,500 per day. In addition, the bareboat charter with the Stena Group has a profit sharing component with a 30 percent share for Aries.

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

 
 
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