FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Frangou Angeliki 2. Date of Event Requiring Statement (Month/Day/Year) 12/16/2004 3. Issuer Name and Ticker or Trading Symbol INTERNATIONAL SHIPPING ENTERPRISES, INC. [ISHP] (Last) (First) (Middle) 1225 FRANKLIN AVENUE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman , CEO and President 5. If Amendment, Date Original Filed(Month/Day/Year) 12/16/2004 (Street) GARDEN CITY, NY 11530 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 6,705,882 (1) D   Common Stock 3,333,140 (2) I By Amadeus Maritime S.A. (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Purchase Warrants	12/10/2005	12/09/2008	Warrant (2)	6,666,280	$ 5	I	By Amadeus Maritime, S.A. (3)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Frangou Angeliki 1225 FRANKLIN AVENUE GARDEN CITY, NY 11530	  X	  X	  Chairman , CEO and President	Â
Amadeus Maritime S.A. 143-145 NOTARA STREET PIRAEUS, J3 185 36	Â	  X	Â	Â

Signatures

/s/ Angeliki Frangou		01/26/2005
**Signature of Reporting Person		Date
By: /s/ Leslie Barkema		01/26/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Amended to report shares inadvertently reported to be directly owned instead of indirectly owned.
(2)	Amended to report securities indirectly owned.
(3)	Angeliki Frangou owns 100% of the outstanding equity interests of Amadeus Maritime, S.A., a Panama corporation ("Amadeus"), with voting and dispositive power over the securities Amadeus owns. The principal address of Amadeus is Swiss Bank Building, 53rd Street, Panama City, Panama.
  Remarks: Angeliki Frangou, Individually  Leslie Barkema, Secretary/Director signing on behalf of Amadeus Maritime, S.A.

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