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

Aberdeen Pupils Peek into Subsea Oil & Gas Technology

Pupils at an Aberdeen primary school were given a rare insight into the depths of the oil and gas industry’s subsea sector after getting to sit in the driving

AVEVA, DNV GL's Sesam Integration Cuts Cost

Integration of Aveva and DNV GL's Sesam Reduces Costs in Maritime and Offshore Engineering. Engineers designing ship hulls and offshore floaters can now save

FORAN for Pertamina's Future Ships

FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System.

Coast Guard

Passenger Ferry Capsizes in the Philippines, Nearly 40 Dead

MBCA Kim Nirvana, a passenger boat carrying 189 people has capsized in the central Philippines, minutes after leaving port, the Philippine Red Cross and coast guard spokesman Cmdr.

Injured Fisherman Medevaced off Alaska

An injured mariner was medevaced by U.S. Coast Guard (USCG) personnel near Sand Point, Wednesday, the USCG reported. Watchstanders at USCG District 17 command

Terrorists Will Exploit EU Migrant Crisis, ESC Warns

ESC Global Security has called for the Mediterranean to be classed a maritime High Risk Area in the wake of the terrorist atrocities in Tunisia and Europe’s escalating migration crisis.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
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: 0.1332 sec (8 req/sec)