Ionia Management S.A.

Ionia Management S.A. is an established provider of international seaborne oil transportation services,managing a modern fleet of tankers, with an average age of about eight (8) years. The Company was founded in 1992 and incorporated in Liberia, with offices in Piraeus. Ionia commenced its ship management activities in December 1992. The first vessels specialized in the transport of getable oils, easy chemicals, wine and clean petroleum products, trading mainly in the Mediterranean Sea. Having acquired a lot of experience as operator of small chemical tankers, Ionia moved into the management of medium-size tankers (about 40,000 dwt) in 1994. The Company maintained vessels under management at the highest standards of safety and performance. As a result, Ionia Management S.A. soon established the reputation of a reliable, efficient and professional operator, well-regarded from oil majors, trading houses and the tanker industry at large. In 1997, the Company took management of the first panamax tanker, expanding into the LR1 tanker sector. In early 1999, the Company became a founding member of the Star Tankers Pool. During the period 1999-2002, the Company operated a sizeable fleet of fifteen (15) vessels, maintaining a presence in the management of small, medium and large tankers. In August 2003, the Company took management of its first ever newbuilding vessel, the 73,000 dwt “THEO T”. That was a cornerstone in the development of Ionia,gradually replacing the fleet under management with modern units. Today, the aggregate deadweight of the managed fleet exceeds 350,000 tonnes. The target is to double the size of fleet under management in the coming years. Ionia Management S.A operators of a fleet of motor tankers engaged in international trading. Established for well over 20 years, the company operates from Piraeus and provides high quality services in an effective, efficient, safe and environmentally friendly manner. We work constantly to deliver a high level of quality in our services and be a responsible partner for our clients. We specialize in the fields of oil, petroleum products and chemicals transportation. Through its sound corporate structure, the Company is able to overcome the challenges that have arisen in this highly regulated, ever-changing and competitive market. In today’s dynamic global environment, shipping is accompanied by great responsibilities towards the international community. We therefore participate as a reliable corporate citizen and partner in the international maritime community. Global demand for oil, petroleum products and chemicals has been increasing steadily. Driven by a healthy world economy and the rapid growth of developing countries, demand is expected to increase further in the future. "We participate as a reliable corporate citizen and partner in the international maritime community."