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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Buoys in Disputed Waters Roil South China Sea Dispute

Buoys stretched "as far as eye could see" - Philippine sailor. The Philippine navy recently found a large steel marker bearing Chinese inscriptions and hundreds

White House: Iran Talks Deadline Could Slip

The White House said Tuesday's deadline for negotiators in Vienna to come to a final, firm agreement on Iran's nuclear program could slip. When asked if President

SUNY Maritime College to Host e-Navigation Underway 2015

The State University of New York Maritime College will host the e-Navigation Underway 2015 – North America conference from September 28 to 30 on its Throggs Neck, N.

Coast Guard

Buoys in Disputed Waters Roil South China Sea Dispute

Buoys stretched "as far as eye could see" - Philippine sailor. The Philippine navy recently found a large steel marker bearing Chinese inscriptions and hundreds

Ocean Safety’s New Liferaft Facility Opens

Ocean Safety, a specialist in the worldwide supply, distribution, service and hire of marine safety equipment, has opened a new liferaft hire division.   Ocean

Four Rescued From Burning Boat in Lake Michigan

The Coast Guard and a good Samaritan rescued 4 people after their 20-foot boat caught fire on the Grand River, Sunday. A boat crew from Coast Guard Station

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.3008 sec (3 req/sec)