This excerpt taken from the ISH 10-Q filed Aug 12, 2005.
Purchase of Pure Car/Truck Carrier
On June 30, 2005, we signed a letter of intent to purchase a PCTC during 2005. Although we are still negotiating the terms and conditions of the documents prepared pursuant to said letter of intent, we currently expect to take delivery of the vessel in September of 2005 and concurrently time charter the vessel out on a long-term contract. The additional MSP operating agreement we were awarded at the beginning of 2005, which will be effective October 1, 2005, will be assigned to this vessel.