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Mineral Monaco Purchased

Maritime Activity Reports, Inc.

February 29, 2008

Bocimar and its joint venture partner Drylog have exercised their option to purchase the Mineral Monaco (2005 – 180,263 dwt) currently on long-term charter from Imabari (Japan). The change of ownership is scheduled to take place in the course of the month of May. The acquisition price amounts to $37.5m.

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