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Oceanbulk Line Debuts New South American Service

Maritime Activity Reports, Inc.

January 12, 2001

Oceanbulk Line began a new fixed 23-day schedule between Vera Cruz, Houston, Mobile (on inducement), Miami, Praia Mole (Vitoria), Rio de Janeiro and Buenos Aires. Northbound vessels will call Campana, Sao Francisco do Sul, Santos, Puerto Cabello and Rio Haina. Oceanbulk Line anticipates 16 sailings throughout 2001. The new multipurpose liner service will commence with the MV Sentinel and the MV Avatar simultaneously loading in Buenos Aires and Houston respectively. Three 18,000 dwt geared Astrakhan sister vessels will ultimately complete the rotation with a sailing speed of 15 knots. Astrakhan vessels have tremendous multipurpose features including a quarter ramp for RoRo cargo, ample hold and tweendeck space for unitized breakbulk and project cargo, the ability to lift heavy lifts up to 120 tons and 550 TEU container capacity. These vessels are suited for vehicles, steel products, pulp and paper, lumber, machinery, rolling stock, all general cargo and containers. Oceanbulk Line is an international shipping company specializing in dry bulk, containerized and general cargo, and rolling stock. In terms of deadweight tonnage, it ranks among the largest dry cargo shipping companies in Greece. Oceanbulk Line maintains the world's youngest multipurpose fleet above 10,000 dwt and the world's largest fleet of Astrakhan vessels.

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