UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D. C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE
13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the
month of July 2009
Commission
File Number: 001-32520
ARIES
MARITIME TRANSPORT LIMITED
(Translation
of registrant's name into English)
18
Zerva Nap. Str.
166
75 Glyfada
Athens,
Greece
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
[x] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): [ ].
Note
:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K
if submitted solely to provide an attached annual report to security
holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): [ ].
Note
:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K
if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant's "home country"), or under the rules of the home country exchange on
which the registrant's securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached
as Exhibit 1 to this report on Form 6-K is a press release dated July 15, 2009
of Aries Maritime Transport Limited (the “Company”) announcing that it has
entered into a commitment letter with Investment Bank of Greece, a member of the
Marfin Popular Bank Group, to fully underwrite $145.0 million aggregate
principal amount of 7% Senior Unsecured Convertible Notes due 2014 related to
the Company’s previously announced non-binding letter of intent for acquisition
of control by Grandunion, Inc.
Exhibit
1
Company
Contact:
Ioannis
Makris
Chief
Financial
Officer
Aries
Maritime Transport Limited
(011) 30
210 8983787
Aries
Maritime Transport Limited Receives $145 Million Commitment Letter
ATHENS,
GREECE, July 15, 2009 – Aries Maritime Transport Limited (NASDAQ: RAMS) today
announced that it has entered into a commitment letter with Investment Bank of
Greece, a member of the Marfin Popular Bank Group, to fully underwrite $145.0
million aggregate principal amount of 7% Senior Unsecured Convertible Notes due
2014 (the “Notes”) related to the Company’s previously announced non-binding
letter of intent for acquisition of control by Grandunion, Inc. Net proceeds
from the Notes are expected to be used primarily to fund vessel acquisitions and
partially repay existing indebtedness.
On June
24, 2009, Aries Maritime signed a non-binding letter of intent with Grandunion,
Inc., a company controlled by Nicholas Fistes and Michael Zolotas, that
contemplates, among other things, the acquisition of three Capesize drybulk
carriers with an approximate net asset value of $36.0 million in exchange for
15,977,778 newly issued shares of the Company and a change of control of the
Company’s board of directors. The commitment letter is contingent, among other
things, on entering into definitive agreements with Grandunion, Inc. and
amendments to Aries’ existing credit facility. There is no assurance that the
Company will enter into these definitive agreements.
Jeff
Parry, Chief Executive Officer of Aries Maritime, commented, “We are pleased to
have entered into a commitment letter to fully underwrite the $145 million in
principal amount of the Notes. This financing represents a critical step forward
with respect to our strategic transaction with Grandunion. As we continue to
make important progress towards entering definitive agreements, management
remains focused on improving the operational performance and financial strength
of our Company.”
About
Aries Maritime Transport Limited
Aries
Maritime Transport Limited is an international shipping company that owns and
operates products tankers and container vessels. The Company’s products tanker
fleet consists of five MR tankers and four Panamax tankers, all of which are
double-hulled. The Company also owns a fleet of two container vessels with a
capacity of 2,917 TEU per vessel. Five of the Company’s 11 vessels are secured
on period charters. Charters for two of the Company’s products tanker vessels
currently have profit-sharing components.
"Safe
Harbor" Statement Under the Private Securities Litigation Reform Act of
1995
This
press release includes assumptions, expectations, projections, intentions and
beliefs about future events. These statements are intended as
‘‘forward-looking statements.’’ We caution that assumptions, expectations,
projections, intentions and beliefs about future events may and often do vary
from actual results and the differences can be material. All statements in this
document that are not statements of historical fact are forward-looking
statements. Forward-looking statements include, but are not limited
to, such matters as future operating or financial results; statements about
planned, pending or recent acquisitions, business strategy, future dividend
payments and expected capital spending or operating expenses, including
drydocking and insurance costs; statements about trends in the container vessel
and products tanker shipping markets, including charter rates and factors
affecting supply and demand; our ability to obtain additional financing;
expectations regarding the availability of vessel acquisitions; and anticipated
developments with respect to pending litigation. The forward-looking statements
in this press release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation,
management’s examination of historical operating trends, data contained in our
records and other data available from third parties. Although Aries
Maritime Transport Limited believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, Aries Maritime Transport Limited cannot assure you that
it will achieve or accomplish these expectations, beliefs or projections
described in the forward looking statements contained in this press release.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including
changes in charter rates and vessel values, failure of a seller to deliver one
or more vessels, failure of a buyer to accept delivery of a vessel, inability to
procure acquisition financing, default by one or more charterers of our ships,
changes in demand for oil and oil products, the effect of changes in OPEC’s
petroleum production levels, worldwide oil consumption and storage, changes in
demand that may affect attitudes of time charterers, scheduled and unscheduled
drydocking, changes in Aries Maritime Transport Limited’s voyage and operating
expenses, including bunker prices, dry-docking and insurance costs, changes in
governmental rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents, international hostilities and political events or acts by
terrorists and other factors discussed in Aries Maritime Transport Limited’s
filings with the U.S. Securities and Exchange Commission from time to time. When
used in this document, the words ‘‘anticipate,’’ ‘‘estimate,’’ ‘‘project,’’
‘‘forecast,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘may,’’ ‘‘should,’’ and ‘‘expect’’
reflect forward-looking statements.
###
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
ARIES
MARITIME TRANSPORT LIMITED
|
|
(registrant)
|
|
|
Dated:
July 15, 2009
|
|
|
By:
/s/
Jeffrey
Owen
Parry
|
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Name:
Jeffrey Owen Parry
|
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Title:
Chief Executive Officer
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SK 23248
0002 1013999
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