Aries Maritime Takes Delivery of Products Tankers

Wednesday, November 30, 2005
Aries Maritime Transport Limited announced that it has taken delivery of the Chinook, a 2001-built 38,700 dwt double-hulled products tanker. The Chinook was acquired from German owners for $32.6 million. The purchase price is inclusive of the ship's existing time charter with Italian stock listed group Navigazione Montanari at the gross rate of $13,100 per day for the remainder of this year and $13,700 per day until expiration of the contract in January 2007. In addition to the Chinook, the Company expects to take delivery of two Panamax newbuildings in December 2005 and March 2006. Following the delivery of these vessels, Aries will operate a fleet of ten double-hulled products tankers with an average age of 6.3 years and total dwt of 575,325. 100% of the Company's products fleet will be employed on profitable time charters with an average duration of 2.5 years. Three of the Company's products tankers will have profit sharing agreements as part of their charters.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

NASSCO Opens New Facility for Naval Repair

General Dynamics NASSCO opened a new location yesterday in Bremerton, Wash. to support the company’s recently-awarded contract to repair and maintain U.S. Navy

GE Gas Turbine Powers Australia’s Largest Warship

GE Marine’s LM2500 aeroderivative marine gas turbine now powers the Royal Australian Navy’s (RAN) recently commissioned HMAS Canberra Landing Helicopter Dock (LHD) ship,

Philippines to Buy Naval Assets, China Sea Dispute Simmers

The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1931 sec (5 req/sec)