| Transaction valuation | Amount of filing fee |
|-----------------------|----------------------|
| $51,820.00 *          | $5.88 **             |

----

| Item 1.   | Summary Term Sheet. |
|---------------------|---------------------|

| Item 2.   | Subject Company Information. |
|---------------------|------------------------------|

| (a)   | Name and address. |
|-----------------|-------------------|

| (b)   | Securities. |
|-----------------|-------------|

| (c)   | Trading Market and Price. |
|-----------------|---------------------------|

| (d)   | Dividends. |
|-----------------|------------|

| (e)   | Prior Public Offerings. |
|-----------------|-------------------------|

| (f)   | Prior Stock Purchases. |
|-----------------|------------------------|

| Item 3.   | Identity and Background of the Filing Person. |
|---------------------|-----------------------------------------------|

|   | (a)-(c) | Name and address; Business and Background of Entities; Business and Background |
|--------|---------|--------------------------------------------------------------------------------|

|   | of Natural Persons. |
|--------|---------------------|

| Item 4.   | Terms of the Transaction. |
|---------------------|---------------------------|

|   | (a)-(f) | Material Terms; Purchases; Different Terms; Appraisal Rights; Provisions for |
|--------|---------|------------------------------------------------------------------------------|

|   | Unaffiliated Security Holders; Eligibility for Listing or Trading. |
|--------|--------------------------------------------------------------------|

| Item 5.   | Past Contacts, Transactions, Negotiations and Agreements. |
|---------------------|-----------------------------------------------------------|

| (a)   | Transactions. |
|-----------------|---------------|

| Item 6.   | Purposes of the Transaction and Plans or Proposals. |
|---------------------|-----------------------------------------------------|

| (a)   | Purposes. |
|-----------------|-----------|

| (b)   | Use of Securities Acquired. |
|-----------------|-----------------------------|

| (c)   | Plans. |
|-----------------|--------|

| Item 7.   | Purposes, Alternatives, Reasons and Effects. |
|---------------------|----------------------------------------------|

| (a)   | Purposes. |
|-----------------|-----------|

| (b)   | Alternatives. |
|-----------------|---------------|

| (c)   | Reasons. |
|-----------------|----------|

| (d)   | Effects. |
|-----------------|----------|

| Item 8.   | Fairness of the Transaction. |
|---------------------|------------------------------|

| Item 9.   | Reports, Opinions, Appraisals and Negotiations. |
|---------------------|-------------------------------------------------|

|   | (a)-(c) | Report, Opinion or Appraisal; Preparer and Summary of the Report, Opinion or |
|--------|---------|------------------------------------------------------------------------------|

|   | Appraisal; Availability of Documents. |
|--------|---------------------------------------|

| Item 10.   | Source and Amounts of Funds or Other Consideration. |
|----------------------|-----------------------------------------------------|

| (a)   | Source of Funds. |
|-----------------|------------------|

| (b)   | Conditions. |
|-----------------|-------------|

| (c)   | Expenses. |
|-----------------|-----------|

| (d)   | Borrowed Funds. |
|-----------------|-----------------|

| Item 11.   | Interest in Securities of the Subject Company. |
|----------------------|------------------------------------------------|

| (a)   | Securities Ownership. |
|-----------------|-----------------------|

| (b)   | Securities Transactions. |
|-----------------|--------------------------|

| Item 12.   | The Solicitation or Recommendation. |
|----------------------|-------------------------------------|

| Item 13.   | Financial Statements. |
|----------------------|-----------------------|

| Item 14.   | Persons/Assets, Retained, Employed, Compensated or Used. |
|----------------------|----------------------------------------------------------|

| Item 15.   | Additional Information. |
|----------------------|-------------------------|

| Item 16.   | Exhibits. |
|----------------------|-----------|

1

2

----

  

  

----

| Date:  November 21, 2011 | B+H Ocean Carriers Ltd.  By       /s/ Michael S. Hudner                                                              Chairman of the Board, President andChief Financial Officer  |
|------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----