Omega Navigation Enterprises, Inc. [www.omeganavigation.com]

Omega's highly focused business strategy includes the following standards:

Generate stable cash flows through time charters: Omega seeks to generate steady cash flows through fixed period time charters. As we expand our fleet, we will seek to optimize our mix of short-, medium- and long-term charters in light of prevailing market conditions in our industry, which is highly cyclical. We believe this strategy reduces our exposure to short-term market volatility and enables us to present profitable operating results.
Strategically expand the size of our fleet: Omega intends to grow its fleet with well maintained high quality vessels, focusing primarily on double hull product tankers. However, Omega intends to continue to monitor market developments and conditions and may acquire additional vessels, including other types of vessels that may serve different shipping sectors and markets, when those acquisitions would, in our view, present favorable investment opportunities.
Maintain and grow a high quality fleet of vessels: Omega will focus in operating a high quality fleet of vessels that meet rigorous industry standards as well as our charterers' and Oil Majors' requirements for the benefit of the Company, it's shareholders and customers. With an uncompromising focus on quality we fulfill our customers' expectations for reliability, fewer off-hire days and greater operating efficiency. Through our Technical Managers' comprehensive planned and preventive maintenance programs, Omega intends to maintain a high quality fleet.
Creates Synergies: The shipping industry is highly fragmented and we intend to create synergies with oil majors, traders and other owners that will assist us in consolidating the market.