Mr. Karlsen has served as the Chairman of Aries Maritime's Board of Directors since the closing of the Company's initial public offering on June 3, 2005.

Since 2000, Mr. Karlsen has been one of three partners and the Joint Managing Director of Cleaves Capital Shipbrokers Ltd. From 1993 through 2000, he was President of R.S. Platou (S) Pte Ltd., a ship brokerage company. Mr. Karlesen has also worked for Fearnleys AS for 10 years in various positions and capacities.

He also serves as a Resident Managing Director of Pacship (UK) Ltd, a company controlled by Pacific Carriers Ltd, a company in the Kuok Group. He has worked in the shipping industry for approximately 25 years. In 1993, the Wind Shipping Group, a company for which Mr. Karlsen served as a Director, was the subject of an insolvency proceeding. He is a citizen of Norway and a resident of England.