News - page 5

Ridgebury Tankers today took delivery of the Ridgebury Sally B, a 2003 Sumitomo-built Aframax tanker. The addition marked the first Aframax tanker in Ridgebury’s growing fleet, joining the company’s seven Suezmax and six MR product tankers. The ship will be employed in the spot market.

The Ridgebury Nicholas A was re-delivered from a fixed rate time charter in Southwest Pass, Louisiana, and immediately placed on a variable rate time charter to Heidmar Trading LLC, for employment in the Heidmar Blue Fin pool. Ridgebury will earn pool revenue, subject to an annually calculated floor of $14,000 per day and will share 50% of any revenue earned in excess of $55,000 per day, also calculated on an annual basis.