We currently have 36,7 product tanker vessels in our fleet. In particular, our fleet includes fourteen owned and eleven chartered in MR product tankers, ranging from 45,000 to 51,000 dwt. It also includes three owned and four chartered in handysize product tankers, ranging from 35,000 to 40,000 dwt. In addition, through the Handytankers Pool, we have partial interests in the charters of ten handysize product tankers. As of 1 May 2008 the average age of our fleet was approximately 3,7 years.

According to our expansion plan, we have secured contracts to increase our fleet in both the MR and handysize product tanker sectors with secured new buildings that are due for delivery between 2008 and 2011. In particular, we have contracts for chartering in five additional MR new buildings and, through our joint venture GLENDA International Shipping Limited (d'Amico + Glencore) we hold a 50% interest in ten additional MR new buildings and through our joint venture DM Shipping Limited (d'Amico + Mitsubishi Corporation) in which we hold a 51% interest, two additional MR new buildings. For the handysize product tankers, we have, through the Handytankers Pool, secured contracts to partial interest on the charters of two handysize new buildings