The following table presents the Company's current fleet and employment profile:
|Dwt||Year Built||Charter Type||Expiry||Daily Base Rate|
|Eight Tanker Vessels|
|Miss Marilena||50,000||2009||Bareboat Charter||Q1-2/2019||$14,400|
|Ionian Wave||50,000||2009||Bareboat Charter||Q1-2/2016||$14,300 A|
|Tyrrhenian Wave||50,000||2009||Bareboat Charter||Q1-2/2016||$14,300 A|
|Total Tanker dwt||393,413|
|Five Drybulk Vessels|
|Subsequent Time Charter||Q2/2011-Q2/2014||$20,000|
|Amalfi||45,526||2000||Time Charter||Q4/2011 - Q1/2012||$14,000|
|Papillon (ex Voc Gallant) )||51,200||2002||Bareboat Charter||Q1-3/2012||$24,000|
|Total Drybulk dwt||324,268|
|A. On January 11, 2010, the Company announced that it had received from the bareboat charterer of the M/T Ionian Wave and the M/T Tyrrhenian Wave, a reduced charter hire rate of $10,000 per day, rather than the $14,300 per day on a bareboat basis that is set forth in the charter agreement. Furthermore, on January 26, 2011, the Company announced that it had received from the same charterer a further reduced charter hire rate of $9,092 per day. The Company has been examining this unilateral reduction and intends to take all necessary steps to recover the amounts owed since the said charterer is considered to be in breach of the charter. B. On October 1, 2010, we entered into a bareboat agreement to charter in M/T Delos for five years at an average daily rate of $5,219.|
As of December 31, 2010, we had total indebtedness under senior secured and unsecured credit facilities with our lenders of $343.7 million (excluding unamortized deferred financing fees of $4.0 million and unamortized debt discount of $2.3 million) with maturity dates from 2011 through 2019.
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