We are an international provider of marine transportation services which focuses on seaborne transportation of refined petroleum products.

We currently own and operate 8 high specification double hull product tankers with an average age of 1.8 years and with a combined cargo carrying capacity of 512,358 dwt.

We announced on June 19, 2007 that we signed shipbuilding contracts with Hyundai Mipo Dockyard, a preeminent shipyard, in South Korea, to construct and acquire five newbuilding double hull handymax product tankers each with a capacity of 37,000 dwt. Four of these product tankers are scheduled for delivery in 2010 starting in the first quarter of 2010, with the fifth scheduled for delivery for February 2011.

On May 19, 2008, we announced our agreement to acquire two resale newbuilding double hull handymax oil product/chemical IMO III tankers. The vessels each have a capacity of approximately 47,000 dwt and are both currently under construction at Hyundai Mipo Shipyard, South Korea. The first vessel is expected to be delivered on or about the second quarter of 2009 and the second vessel is expected to be delivered on or about the third quarter of 2010.

With the addition of these vessels, Omega's fleet will expand to 15 product tankers, including seven newbuilding handymax vessels with a total deadweight capacity of 791,358 dwt.

We are generating revenues by employing vessels on long term time charters

Technical management is provided by third party ship management companies

Commercial management is provided by our wholly owned subsidiary, Omega Management Inc.