In a conference call with investors Evangelos Chatzis noted his companyhas already offloaded most of its eldest vessels and indicated there are onlythree more potential candidates for scrapping.

In response to a question from Mark Suarez of Euro Pacific Capital aboutthe next phase of the operator’s fleet renewal programme the executive said futureacquisitions would likely be funded with cash from its own coffers if ittargets second-hand tonnage.

If