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.