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Crude Carriers Corp.

Saturday, 26 November 2011 | 00:00

Crude Carriers Corp. (NYSE: CRU), a Marshall Islands corporation, was formed in October 2009 to conduct a shipping business focused on the crude tanker industry. We plan to acquire and operate a fleet of crude tankers that will transport mainly crude oil and fuel oil along worldwide shipping routes. Capital Maritime, an international shipping company, will serve as our Manager. We intend to leverage the expertise and reputation of our Manager to pursue growth opportunities in the crude oil tanker shipping market. We intend to maintain a flexible approach to chartering with the strategy of optimizing our selection of the available commercial opportunities over time. We currently expect to focus on the spot market, including all types of spot market"”related engagements such as single voyage or short-term time charters, but retain the ability to evaluate and enter into longer-term period charters, with terms that may provide for profit sharing arrangements and we may also charter-in vessels. Crude Carriers Corp. is an international transportation company focused on the crude tanker industry. Our initial fleet consists of two newly delivered VLCCs (Very Large Crude Carrier) and one modern, high specification Suezmax tanker. We intend to trade our vessels in the spot crude tanker market.

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