ABOUT US

Capital Ship Management Corp. ('Capital') currently operates a fleet of 45 vessels including 30 tankers (3 VLCCs, 5 Suezmaxes, 20 MR/Handy product tankers, 2 small tankers), 13 modern bulk carriers (2 Capesize, 1 Supramax, 10 Handy) and 2 container carriers. It has extensive experience in managing almost all vessel types and sizes including all tanker segments (VLCC, Suezmax, Aframax/LR2, Panamax/LR1, MR/Handy and small tankers), dry bulk segments (Cape, Panamax, Handymax and Handy), as well as OBOs and containers.

The Company offers services in every aspect of ship management including: safety and technical management, claims & insurance, bunkering, vetting preparation and attendance, risk assessment, newbuilding design and supervision, IT services, accounting, financial management and other administrative functions, as well as human resources management such as crewing and personnel training with state-of-the-art technology.

The ice class fleet managed by Capital is one of the largest in the world. It encompasses 15 vessels, including 14 Ice Class 1A MR product tankers and a Suezmax Crude oil tanker, all built after 2006. In the challenging conditions prevailing in the current shipping market, the ice class properties of its fleet bestow Capital with a comparative advantage. Its Ice Class vessels have successfully traded at ports such as Vysotsk, Primorsk, St. Petersburg, Quebec, Three Rivers, Montreal, Vitino, Jinzhou, Slavyanka and under severe winter conditions. The Company’s ice class vessels are operated with experienced officers and ratings, who undergo periodic training for ice conditions at a specialized academy in St. Petersburg.

The quality of the Capital Ship Management services and its excellent ‘HSSE’ (health, safety, security and environmental) concerns, and operating record was highlighted when Capital was recently selected as “Tanker Company of the Year 2009” at the annual Lloyd’s List Greek Shipping Awards. The company adopted and implemented additional standards during 2009, including business continuity management principles, and received the Lloyd’s Register certification for its Integrated Management System, both contributing factors to its winning this award.

The high standards of the Capital Ship Management services were again highlighted when two of the vessels operated by Capital (‘Avax’ and ‘Agisilaos’) were selected, for a second consecutive year, as the two BP Shipping Top Performing Vessels for the year 2008 amongst over 140 vessels within the BP Partners fleet. In 2007, three Capital Ice Class 1A vessels (‘Axios’, ‘Avax’ and ‘Agisilaos’) made it into the top 10 BP performers, including the top position. Note that BP Shipping evaluates vessel performance based on ‘HSSE’ concerns, speed and consumption, vessel availability, pumping performance, trading approvals and port performance criteria.

Capital Ship Management is one of the largest BP Shipping’s partners for its period charter segment and the largest in the MR segment worldwide. The excellent performance of Capital Ship Management has been recognized by the oil major companies and major traders in the industry. It is one of the few ship management companies to have successfully completed the comprehensive vetting process of numerous major oil companies and qualified for period charters with BP p.l.c., ExxonMobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Total S.A. and StatoilHydro ASA. Capital has also established long standing relationships with major traders such as Morgan Stanley Capital Group, Vitol Group, Cargill Inc., Glencore International AG, Trafigura Beheer B.V. and Bunge Ltd with period fixtures having been entered into with several of these.

Ten of the Ice Class 1A MR chemical/product tankers in the Capital fleet are operated under a management agreement for Capital Product Partners L.P. (Nasdaq: CPLP), which is sponsored by Capital’s parent company, Capital Maritime & Trading Corp. CPLP is an international shipping company and leader in the seaborne transportation of refined oil products and chemicals.

Capital Ship Management operates under a Safety Management System in compliance with the IMO’s ISM code. Capital’s management system also complies with the Quality Assurance Standard ISO 9001, the Environmental Management Standard ISO 14001, the Occupational Health & Safety Management System (“OHSAS”) 18001. The compliance of Capital with all of the above standards is certified by Lloyds Register of Shipping.

Capital is extremely sensitive to all ‘HSSE’ (health, safety, security and environmental) concerns. It fully implements all the regulatory and industry standards and goes beyond this with continuous improvement of its environmental and safety performance. It is very keen in safeguarding the safety and health of its crews, the general public and the environment and has taken all the appropriate measures to ensure their wellbeing.

Capital Ship Management is implementing a strict code of ethics for its employees ashore and onboard the vessels.

The Company’s classification societies of choice are L.R. and A.B.S with whom it enjoys excellent and long-standing relations.

Capital Ship Management is fully committed to transparency and financial control, is fully audited according to US standards (auditor: Deloitte & Touche) and Sarbanes – Oxley Act compliant (auditor: PricewaterhouseCoopers).