RAMS Aries Maritime Transport Limited - Common Shares (MM)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

Aries Maritime Transport Limited

Common Stock, $0.01 par value

G0474B105

Philip Stone

Director

Parmenides Corporation Ltd

June 4, 2009

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box   ¨

SCHEDULE 13D

SCHEDULE 13D

SCHEDULE 13D

SCHEDULE 13D

This Amendment No. 5 amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission (the “SEC”) on November 6, 2008, as amended by Amendments Nos. 1, 2, 3 and 4 thereto (the “Schedule 13D”), relating to the common stock, $0.01 par value (“Common Stock”), of Aries Maritime Transport Limited, a Bermuda company (the “Issuer”). Except as expressly set forth herein, there have been no changes in the information set forth in the Schedule 13D. Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule 13D.

Items 5(a) and (b) are hereby amended and restated in their entirety as follows:

(a) The Reporting Persons may be deemed to beneficially own collectively an aggregate of 1,125,237 shares of Common Stock, or approximately 3.93% of outstanding shares of Common Stock of the Issuer, based upon 28,616,877 shares of Common Stock outstanding as of December 31, 2007, as reported by the Issuer in its Annual Report on Form 20-F for the year ended December 31, 2007.

Parmenides may be deemed to be the direct beneficial owner of 1,125,237 shares of Common Stock, or approximately 3.93% of the outstanding shares of Common Stock.

By virtue of its ownership of all of the outstanding shares of common stock of Parmenides, Navig8 may be deemed to be the indirect beneficial owner of the 1,125,237 shares of Common Stock held directly by Parmenides, or approximately 3.93% of the outstanding shares of Common Stock.

By virtue of his shareholdings in Navig8, Brocklesby may be deemed to be the indirect beneficial owner of the 1,125,237 shares of Common Stock held directly by Parmenides, or approximately 3.93% of the outstanding shares of Common Stock.

By virtue of his shareholdings in Navig8, Busch may be deemed to be the indirect beneficial owner of the 1,125,237 shares of Common Stock held directly by Parmenides, or approximately 3.93% of the outstanding shares of Common Stock.

The persons listed on Schedule A disclaim any beneficial ownership of the Common Stock held by the Reporting Persons.

(b) Parmenides may be deemed to have sole voting and dispositive power with respect to 0 shares of Common Stock and to have shared voting and dispositive power with respect to 1,125,237 shares of Common Stock.

Navig8 may be deemed to have sole voting and dispositive power with respect to 0 shares of Common Stock and to have shared voting and dispositive power with respect to 1,125,237 shares of Common Stock.

Brocklesby may be deemed to have sole voting and dispositive power with respect to 0 shares of Common Stock and to have shared voting and dispositive power with respect to 1,125,237 shares of Common Stock.

Busch may be deemed to have sole voting and dispositive power with respect to 0 shares of Common Stock and to have shared voting and dispositive power with respect to 1,125,237 shares of Common Stock.

Item 5(c) is hereby amended and supplemented as follows:

Since the filing of the Schedule 13D, Parmenides entered into the following transactions to sell shares of Common Stock: (a) a transaction to sell 65,050 shares of Common Stock at a purchase price of USD $0.7044 per share, effected on June 2, 2009 in the open market; (b) a transaction to sell 137,200 shares of Common Stock at a purchase price of USD $0.6886 per share, effected on June 3, 2009 in the open market; (c) a transaction to sell 254,480 shares of Common Stock at a purchase price of USD $0.707 per share, effected on June 4, 2009 in the open market; and (d) a transaction to sell 15,226 shares of Common Stock at a purchase price of USD $0.6815 per share, effected on June 5, 2009 in the open market.

SIGNATURE

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated: June 10, 2009

EXHIBIT A

FILING AGREEMENT

BETWEEN PARMENIDES CORPORATION LTD, NAVIG8 LTD,

GARY BROCKLESBY AND NICOLAS BUSCH

The undersigned hereby agree that the Schedule 13D with respect to the Common Stock, $0.01 par value, of Aries Maritime Transport Limited dated of even date herewith is and shall be filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.

Dated: June 10, 2009

Schedule A

Directors of Parmenides Corporation Ltd

The following table sets forth the name, principal occupation or employment, citizenship and business address of each director of Parmenides Corporation Ltd.

Directors of Navig8 Ltd

The following table sets forth the name, principal occupation or employment, citizenship and business address of each director of Navig8 Ltd.

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