Website: N/A
Stock Symbol: AMEX: BHO
Market Value: N/A (in millions)

B+H Ocean Carriers Ltd. (the "Company"*) was organized in April 1988 to engage in the business of acquiring, investing in, owning, operating and selling vessels for dry bulk and liquid cargo transporta-tion. As of December 31, 2006, the Company owned and operated six MR product tankers, two Panamax product tankers and six OBOs. The Company also owns a 50% interest in a company which is the disponent owner of a 1992-built 75,000 DWT Combination Carrier, effected through a lease structure. Each vessel accounts for a significant portion of the Company’s revenues.

The Company’s fleet of product tankers consist of “handy-size” vessels which are between 30,000 and 50,000 summer dead-weight tons ("DWT"), and are able, by reason of their smaller size, to trans-port commodities to and from most ports in the world, includ-ing those located in less developed third-world countries. The Company’s Panamax product tankers are 61,000 and 68,500 DWT.