SOURCE: Aries Maritime Transport Limited

August 05, 2005 12:40 ET

Aries Maritime Announces Second Quarter 2005 Earnings Release and Conference Call

ATHENS, GREECE -- (MARKET WIRE) -- August 5, 2005 -- Aries Maritime Transport Limited (NASDAQ: RAMS), today announced that it will release its second quarter 2005 earnings on the morning of Thursday, August 11, 2005 and will host an investor conference call on Thursday at 10:00 a.m. eastern time to discuss the results.

To access the conference call, dial (973) 633-8200. Following the teleconference, a replay of the call may be accessed by dialing (973) 341-3080 and entering the reservation number 6350069. The replay will be available from 12:00 p.m. eastern time on Thursday, August 11, 2005, to 11:59 p.m. eastern time on Thursday, August 25, 2005. The conference call will also be webcast live on the Company's website: www.ariesmaritime.com. A replay of the webcast will be available immediately following the call through Thursday, August 25, 2005.

About Aries Maritime Transport Limited

Aries Maritime Transport Limited is an international shipping company that owns and operates products tankers and container vessels. The Company's product tanker fleet, which has an average age of 7.8 years and is 100% double-hulled, consists of four MR tankers, two Panamax tankers and one Aframax tanker. The Company also owns a fleet of five container vessels. The Company's container vessels have an average age of 15.6 years and range in capacity from 1,799 to 2,917 TEU. All of the Company's product tankers and container vessels currently operate under long-term time charters.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

This press release includes assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as "forward-looking statements." We caution that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results and the differences can be material. All statements in this document that are not statements of historical fact are forward-looking statements. Forward-looking statements include, but are not limited to, such matters as future operating or financial results; statements about planned, pending or recent acquisitions, business strategy and expected capital spending or operating expenses, including drydocking and insurance costs; statements about trends in the container vessel and products tanker shipping markets, including charter rates and factors affecting supply and demand; our ability to obtain additional financing; expectations regarding the availability of vessel acquisitions; and anticipated developments with respect to pending litigation. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although Aries Maritime Transport Limited believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, Aries Maritime Transport Limited cannot assure you that it will achieve or accomplish these expectations, beliefs or projections described in the forward-looking statements contained in this press release. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter rates and vessel values, failure of a seller to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, inability to procure acquisition financing, default by one or more charterers of our ships, changes in demand for oil and oil products, the effect of changes in OPEC's petroleum production levels, worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers, scheduled and unscheduled drydocking, changes in Aries Maritime Transport Limited's voyage and operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents, international hostilities and political events or acts by terrorists. When used in this document, the words "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should," and "expect" reflect forward-looking statements.

Contact Information

  • Company Contacts:
    Richard J.H. Coxall
    Chief Financial Officer
    Aries Maritime Transport Limited
    (011) 30 210 946-7433

    Leon Berman
    Principal
    The IGB Group
    212-477-8438