Hellespont expands into Lion Republic

Singapore: The Hamburg-based Hellespont group has expanded its operations by opening a new company in Singapore. Hellespont Singapore Pte Ltd is
responsible for developing relationships with key offshore charterers in
Singapore, sourcing crews for the Hellespont-managed PSV fleet and
establishing Hellespont as operators of offshore vessels in Singapore.

Phrixos Papachristidis, Managing Director of Hellespont AG & Co KG, the
parent company of the German-based Hellespont ship management and marine
services group, says, "We have a growing fleet of offshore vessels and
we wanted to place the management and operation close to key charterers.
Singapore is a key hub for offshore operations and ideal for operating
our new fleet of PSVs. In the future we expect to expand the company
there to provide third party management to other operators, not just in
the offshore service vessel field, but also in our other areas of
expertise with tankers, chemical tankers and bulk carriers."  [22/10/09]