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HELLENIC CARRIERS CHARTERS ONE OF ITS PANAMAX VESSELS FOR US$64,000 PER DAY
Press Release 19 February 2008 - Fleet Employment Update
Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine
transportation services for dry bulk cargoes, today announced that it has entered into a time charter agreement
with Oslo listed Golden Ocean Group for the M/V Hellenic Breeze for a minimum period of 2 months with the
maximum time charter expiry on 15 June 2008, at the gross rate of US$64,000 per day. The charter is expected to
commence on or about 1 March, 2008.
The M/V Hellenic Breeze is a 69,601 dwt Panamax built in 1993 at Tsuneishi Shipbuilding Yard in Japan.
Fotini Karamanlis, Chief Executive Officer, commented: “Hellenic has achieved an impressive fixture at a gross
rate of US$64,000 per day, which exemplifies our strategy of opportunistically seeking shorter term coverage in
conjunction with long term employment providing visibility of cash flows. This short term charter is at a
significantly higher rate than the vessel’s previous employment at a gross rate of US$45,000 per day and we
expect to reap the benefits of a robust freight environment in the second quarter of 2008 upon vessel’s redelivery.
With this fixture, our time charter coverage for 2008 increases to 63%.”
About Hellenic Carriers Limited
Hellenic Carriers Limited owns and operates a fleet of dry bulk vessels that transport iron ore, coal, grain, steel
products, cement, alumina, and other dry bulk cargoes worldwide. Its current fleet consists of four vessels,
comprising three Panamaxes and one Handymax. The Company has also contracted to acquire a Supramax vessel
with expected delivery between 1 March and 30 April 2008 and a Panamax vessel with expected delivery
between 1 March and May 31 2008. Including the new Supramax and Panamax vessels to be delivered,
Hellenic's fleet has an aggregate carrying capacity of 372,761 dwt and an average age of 12.8 years as at 31
January 2008.
Hellenic Carriers Limited
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