We are a leading seaborne transporter of crude oil and refined petroleum products operating in the international shipping markets. The Company owns and has on order only double hull tankers. As of December 31, 2006, our modern fleet comprised 46 vessels with an average age of approximately 3.3 years, 1 compared to an industry average age of approximately 8.7 years. Since that date, we have sold three product carriers and chartered back one of them. The Company has ordered two ice class 1A 37,000 dwt product carriers scheduled to be delivered in early 2009.
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