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Peter S. Shaerf was appointed as a Director in August 2005. Currently Mr. Shaerf is a Managing Director at AMA Capital Partners LLC a maritime investment bank based in New York. He started in the maritime industry over 30 years ago and has worked extensively as a broker of container and dry cargo vessels through The Commonwealth Group a company he founded. He also operated a small Caribbean liner service while working for a firm of British shipowners. From 1998 to April 2002 Mr. Shaerf was a Managing Director of Poseidon Capital an independent maritime consulting and investment company that works extensively in the investment community. At AMA he has continued developing relationships in the capital markets where he has worked primarily advising hedge funds and investors on a variety of maritime investments in both equity and distressed debt. Since May 2001 Mr. Shaerf has been a Director of General Maritime Corp (NYSE). Since May 2005 he has been a director of TBS International (NASDAQ) and since April 2002 a director of Trailer Bridge (NASDAQ). He served as a board member of MC Shipping (AMEX) from 1993 to 2004. He is also a Director of The Containerization and Intermodal Institute and Vice- Chairman of the Government sponsored Short Sea Shipping Co-operative ("SCOOP") and is a member of the Maritime Law Association. Mr. Shaerf received his B.A. in International Business Law from London Guildhall University in London England. | 