FOURTH
SUPPLEMENTAL AGREEMENT





To:          Aries
Maritime Transport Limited


Nap.
Zerva 18, str.


166 75
Glyfada, Greece





July
2007


Dear
Sirs,





US$360,000,000
Revolving Credit Facility





We refer
to the facility agreement dated 3 April 2006 (as supplemented and amended from
time to time) (the “Facility
Agreement”) and made between (1) you, (hereinafter referred to as the
“Borrower”), (2) the
banks and financial institutions as set out in Schedule 1 to the Facility
Agreement (the “Banks”),
(3) The Governor and Company of the Bank of Scotland and Nordea Bank Finland plc
as joint lead arrangers (the “Arrangers”) (4) the banks and
financial institutions set out at Schedule 1, part 3 to the Facility Agreement
in their capacity as co-arrangers (the “Co-Arrangers”), (5) the
banks and financial institutions set out at Schedule 1, part 2 to the Facility
Agreement in their capacity as swap banks (the “Swap Banks”) and (6) The
Governor and Company of the Bank of Scotland (the “Agent”, and together with the
Banks, the Arrangers, the Co-Arrangers and the Swap Banks, the “Finance Parties” and each a
“Finance Party”) as
agent, security agent and trustee on behalf of the Finance Parties, pursuant to
which the Banks agreed to make available to you upon the terms and conditions
therein the aggregate sum of up to three hundred and sixty million Dollars
($360,000,000) (the “Loan”).




You, the
Borrower, have now requested that we, in our capacity as security agent and
trustee on behalf of the Finance Parties, agree on behalf of the Finance
Parties, to:




(A)
            the
      change of charterer of the Marshall Islands flag “ANL ENERGY” with
      official number 2062 (the “Ship”) from CMA CGM S.A.
      to I.R.I.S.L. (ISLAMIC REPUBLIC OF IRAN SHIPPING LINES) (“IRISL”);
    and




(B)
            the
      change of name of the Ship to “ENERGY
1”.




We, as
Agent, on behalf of the Finance Parties but subject to the receipt and
satisfaction of the Conditions Precedent listed in Schedule 1 hereto,
hereby:




1
            agree
      and consent to the change of charterer of the Ship to
    IRISL;




2
            agree
      and consent to the change of name of the Ship from “ANL ENERGY” to “ENERGY
      1”;




3
            agree
      to the deletion of the words “ANL ENERGY” wherever they appear in the
      Facility Agreement and their replacement with the word and number “ENERGY
      1”; and




4
            agree
      to the deletion of the charterer’s name “CMA CGM S.A.” and replacing it
      with the name “I.R.I.S.L. (ISLAMIC REPUBLIC OF IRAN SHIPPING LINES)” in
      the description of the Ship in Schedule 2, Part 1 of the Facility
      Agreement.




Please
countersign and return a copy of this letter as evidence of your agreement to
all of its terms and conditions and procure the countersignature and return of
this letter by the Owners and the Manager as evidence of their agreement to all
of its terms and conditions.




Words and
expressions defined in the Facility Agreement shall, unless the context
otherwise requires or unless defined herein, have the same meanings when used in
this letter.




This
letter shall be governed by and construed in accordance with the laws of
England.




Yours
faithfully,







...........................


For and
on behalf of


THE
GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND


(as
security agent and trustee for the Finance Parties)









We agree
to the terms of this letter.







...........................


For and
on behalf
of


ARIES
MARITIME TRANSPORT LIMITED














We agree
to the terms of this letter.









...........................




For and
on behalf of




MAGNUS
CARRIERS CORPORATION






















We agree
to the terms of this letter.







...........................


For and
on behalf of


OSTRIA
WAVES LTD.


ERMINA
MARINE LIMITED


VINTAGE
MARINE S.A.


LAND
MARINE S.A.


RIDER
MARINE S.A.


ALTIUS
MARINE S.A.


FORTIUS
MARINE S.A.


JUBILEE
SHIPHOLDING S.A.


OLYMPIC
GALAXY SHIPPING LIMITED


DYNAMIC
MARITIME COMPANY


MAKASSAR
MARINE LTD.


SEINE
MARINE LTD.


CHINOOK
WAVES CORPORATION


COMPASS
OVERSEAS LTD.


COMPASSION
OVERSEAS LTD.







SK 23113 0002
896034