Aries Maritime Provides Update on its Fleet Deployment

Tuesday, October 24, 2006
Aries Maritime Transport Limited announced an update on its fleet deployment. The Bora, a 2000-built double-hull products tanker, returned to service last week following the completion of works, which included dry-docking repairs and upgrades, as previously announced. The vessel is being deployed in the spot market, while period charter opportunities are explored. The cost of repairs is expected to total approximately $1.4m.

The company also announced it has commenced a new time charter for the Energy, a 1989-built container vessel, with IRISL following the redelivery of the vessel from its previous charterer. The new time charter, effective October 2, 2006, is for an initial period of 18 months at a rate of $17,297.50 per day. The charterer has an option to extend the time charter for a period of six months at the same rate.

The Force, a sister ship of the Energy, has entered into a trip time charter from the Middle East to Europe at a rate of $21,693.75 per day, commencing October 13, 2006, following redelivery of the vessel from its previous charterer. The new charterer, the Shipping Corporation of India, has also exercised an option to extend the charter from Europe to the U.S. East Coast. As a result, a $225,000 lump sum is payable in addition to the hire. The vessel was redelivered from its previous charter due to the Force exceeding the maximum off-hire time allowed under the contract. Aries also announced the appointment of Tapas Mukhopadhyay as Aries Fleet Manager, effective November 1, 2006. Mukhopadhyay joins Aries Maritime with 30 years of shipping experience, including ten years as Head of Technical Management for Essar Shipping Ltd. of India. In this new senior position, he will be responsible for supervising the operations of Aries' fleet.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sea Star Line: Equipment Replacement Plan on Track

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’

October Imports up 9% at Port of Oakland

Containerized imports shipped through the Port of Oakland were up 9.17% in October from a year ago, the port said, citing the surge as the biggest jump in import cargo volume in six months.

Atteridge Retires from Furuno USA

After 30 years of service to Furuno USA, Inc., Jim Atteridge is retiring as President and assuming a new role, as Director and Corporate Advisor. Effective December 1,

Coast Guard

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

Seaspan Shipyard's Prompt Response to Canadian Coast Guard

Seaspan Shipyard’s long-standing relationship with the Canadian Coast Guard was proudly showcased in recent days, with simultaneous repair and maintenance work

New Agency to Replace S. Korea Coast Guard after Ferry Disaster

South Korea launches a massive new government agency this week to handle emergency rescue and safety management seven months after a ferry disaster killed 304 people

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1722 sec (6 req/sec)