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

People & Company News

First Vessel of New Rescue Class Launched

Global shipping and energy services firm, Craig Group, has launched its first F-Class vessel, the Grampian Fortress. The IMT 958 multi-role emergency response and

MacArthur Lock Dewatered for Emergency Repairs

The U.S. Army Corps of Engineers, Detroit District, announced the MacArthur Lock, located on the Soo Locks at Sault Ste. Marie, Mich., is experiencing mechanical

Strategic Marine: Stock Program Full Power Ahead

Strategic Marine confirmed its stock program of personnel transport vessels is market-ready.  “Our stock program currently incorporates two class leading designs

Coast Guard

ASEAN: China Shuns South China Sea Dialogue

Chinese Vice Foreign Minister Liu Zhenmin said on Monday the disputed South China Sea should not be discussed at a meeting of the Association of Southeast Asian Nations (ASEAN).

Injured Woman Rescued on Lake Washington

Coast Guard, Seattle Police Department, Seattle Fire Department, King County Sheriff’s Office and Washington Department of Fish and Wildlife personnel rescued

Boxships Collide in Port Klang, Malaysia

The container ships MOL Empire and Northern Democrat collided at around 1430 LT Aug 1 in Westport harbor at Port Klang, Malaysia, reportedly while mooring.   Container or containers fell overboard,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Sonar 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: 0.2976 sec (3 req/sec)