Aries Maritime Provides Update on the Bora
Tuesday, September 26, 2006
Transport Limited announced that it expects to complete repairs to the Bora, a 2000-built double-hull products tanker, before the end of the second week of October 2006 at a total cost of
approximately $1.3 million. Following the completion of repairs, Aries
plans to initially employ the vessel in the spot market prior to securing a
period charter. The Company's previous time charter arrangement with FR8
PTE has been voided with no claim on either party as a result of passing
the cancellation date under the charter terms.