TAX CONFERENCE

The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.

MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004

Make sure you know how the new tax rules work!

February 14, 2005

CMB unit makes resale profit

CMB confirms that its subsidiary Bocimar International has sold the 1999-built , 72,270 dwt panamax bulk carrier CMB Daisy (ex-Sea Daisy) (1999 – 72,270 dwt) that was acquired in the course of 2004.

CMB says the gross sale proceeds amount to $42.2 million. The capital gain on this sale amounts to approximately $19 million.

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