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Aries Maritime Transport Snapshot
NewLead has a new lease on international shipping. Formerly Aries Maritime Transport, the company changed its name in late 2009 and exited the container shipping business in 2010. Its 12-vessel fleet consists of nine double-hulled product tankers designed to transport gasoline, jet fuel, heating oil, and kerosene. The product tankers, which are chartered primarily on long-term contracts, have an overall capacity of more than 400,000 deadweight tons (DWT). NewLead operates three dry bulk vessels (designed for iron ore and coal) with a capacity of 1.1-plus million DWT. Grandunion, Inc., an entity owned by chairman Nicholas Fistes and deputy chairman and CEO Michail Zolotas, holds a controlling stake in NewLead.
