Aries Maritime Transport Limited announced that it has reached an agreement to commence a period charter for the , a 1992-built products tanker, and the High Rider, a 1991-built products tanker, with IPG for 12 months at a net rate of $18,525 per day per vessel. The period charter for the commenced on September 29, 2008 and the period charter for the High Rider is expected to commence upon completion of the vessel's current voyage charter on or about October 8, 2008.