Business: Omega Navigation Enterprises, Inc. is an international provider of global marine transportation services through the ownership and operation of nine double hull product tankers. The current fleet includes nine double hull product tankers with a carrying capacity of 559,358 dwt., of which one double hull product tanker, with a capacity of 47,000 dwt, is owned through a 50/50 joint venture with Glencore International AG (through wholly owned subsidiaries). Eight of these nine product tankers are chartered out under period time charters. Furthermore, the company has also announced the signing of shipbuilding contracts in June of 2007 to construct and acquire five additional product tankers with a capacity of 37,000 dwt each scheduled for delivery between March 2010 and early in 2011. The company also announced in May of 2008 that it had entered into an agreement with an unrelated third party to purchase one newbuilding 47,000 dwt. coated product / chemical tanker under construction at Hyundai Mipo Dockyard in South Korea, scheduled to be delivered in the third quarter of 2010. The Company was incorporated in the Marshall Islands in February 2005. Its principal executive offices are located in Piraeus, Greece and it also maintains an office in the United States.