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Aries Maritime Transport Ltd

Aries Maritime Announces Extended Bareboat Charters for Two Products Tankers

renewed the bareboat charters for the Stena Compass, a 2006-built double-hull products tanker, and its sister ship, the Stena Compassion, with Stena Group.

The charters will be for 23 to 25 months at a gross rate of $18,700 per day per vessel, less 2.5% in brokerage commissions. The charters also include a profit-sharing component for Aries equal to 30% of the actual Time Charter Equivalent rate above $26,000 per day per vessel. The charters are scheduled to commence upon expiration of the vessels' current charter.

Aries also announced that the CMA CGM Seine, a...

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