The objective of the Forum was to provide investors with a comprehensive review and outlook of the various shipping markets as well as of the participating companies. The Forum also aimed to enhance the information flow between investors and shipping companies and to increase the awareness about shipping as an industry to a wide audience of investors.

The conference featured panels on several topics of current interest, company presentations and one-on-one meetings between company management and investors.

According to Mr. Guy Verberne, Head of Economics and Investment Strategy of Fortis Bank Nederland/Global Markets, “recessions usually don't last very long: the post-war average for the United States stands at 10 months, while the longest recession lasted no more than 16 months. The current US recession ranks among the deepest in post-war history, but it is unlikely to break the record by more than a few months, thanks to assertive government interventions to preserve the banking system, and the very aggressive easing of fiscal and monetary policy. This would imply a return to positive growth rates somewhere around the middle of the year.”

The Forum was highlighted by Luncheon Keynote speaker Dr. Peter Swift, Managing Director of INTERTANKO. INTERTANKO is the International Association of Independent Tanker Owners. INTERTANKO has been the voice of independent tanker owners since 1970, ensuring that the oil that keeps the world turning is shipped safely, responsibly and competitively.

Introduced by Mr. Nikolas Tsakos, CEO - Tsakos Energy, Dr. Swift addressed a 400-strong luncheon crowd of high caliber shipping investors, fund managers, shipowners, bankers and lawyers.

His speech included a brief introduction on INTERTANKO and a comprehensive review and outlook of the various shipping markets. Speaking on the outlook for tanker markets in 2009, Dr. Swift admitted that global oil demand is likely to continue to be weakened next year. He added however, that despite any weakening, demand “will still be there” as the world “needs oil”.

He concluded the speech by warming up the crowd with a humorous joke: “What’s the difference between a shipowner and a pirate? A pirate can make money out of a capesize vessel.”

Also, there were presentations by the management of the following companies:

• Aries Maritime (NASDAQ:RAMS), by Mr. Jeff Parry, CEO
• Capital Product Partners (NASDAQ: CPLP), by Mr. John Lazaridis, CEO
• d'Amico International Shipping (MI: DIS), Mr. Marco Fiori, CEO
• Danaos Corporation (NYSE: DAC), Mr. Dimitri Andritsoyannis, CFO
• Ocean Rig, a subsidiary of DryShips Inc. (NASDAQ: DRYS), Mr. David Mullen, CEO
• Euroseas (NASDAQ: ESEA), Mr. Aristides Pittas, CEO
• Navios Maritime Holdings (NYSE: NM), Mr. Ted Petrone, President
• Navios Maritime Partners (NYSE: NMM), Mr. Michael McClure, CFO
• OceanFreight (NASDAQ: OCNF), Mr. Dimitris Nenes, COO
• Omega Navigation Enterprises (NASDAQ: ONAV), Mr. Gregory McGrath, CFO
• Safe Bulkers (NYSE: SB), Mr. Polys Hajioannou, CEO
• Star Bulk Carriers Corp (NASDAQ: SBLK), Mr. George Syllantavos, CFO
• Tsakos Energy Corporation (NYSE: TNP), Mr. George Saroglou, COO