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Motia Continues Tanker Expansion

Maritime Activity Reports, Inc.

November 17, 2005

Venice-based Motia Compagnia di Navigazione has continued its expansion of modern product carrier tonnage with the delivery of the 29,000 dwt Elisa from STX Shipbuilding, Korea. The third of a series of four sister ships from the same yard building for Motia, the Elisa is an IMO II Product/Chemical Carrier and it will enter employment in the Handytankers Pool.

Antonio Zacchello, managing director of Motia Compagnia di Navigazione, says, "This vessel is part of our continued expansion into ultra-modern and very high quality product carriers. It is a versatile, economic and environmentally friendly vessel and the sister ships we already employ are providing good service to demanding charterers in the current strong market for product tankers. We are especially proud to be among the handful of tanker owners worldwide who have opted for the voluntary Green Star notation, which demonstrates our commitment to going beyond compliance when it comes to keeping our air and seas clean."

Built to dual RINA/ABS class, the Elisa will fly the Italian flag and will carry Italian crew. Class notations are: C+, Oil / Chemical Tanker, ESP, STAR HULL NB, +AUT-CCS, VCS, Green Star (Clean Air & Clean Sea).

Elisa is a single screw diesel vessel carrying crude oil/product/chemicals with a deadweight capacity of 29,000 MT at scantling draft, with double hull in the cargo area and in way of fuel oil tanks. The cargo area consists of seven pairs of cargo tanks, one pair of slop tanks and seven pairs of water ballast tanks. Cargo tanks are coated with epoxy paint and are served by 14 submerged centrifugal pumps rated for 450 m3/hr x 130 MLC at S.G. 0.80 / 1 cst. The 164.5 m LOA vessel has beam of 27.6 m and a design speed of 14.5 knots at the loaded draft of 10.5 m. The main engine is an STX MAN B&W 6S46MC capable of burning fuel up to 700 cst. A hydraulic bow thruster of 750 KW aids manoeuvring.

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