News - page 6

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.