OceanFreight Inc. Declares Quarterly Dividend of $0.77 Per Common Share

July 22, 2008 ATHENS, Greece, OceanFreight Inc. (NASDAQ:OCNF), a global provider of seaborne transportation services, today announced that its Board of Directors has declared a dividend of $0.77 per common and subordinated share in respect of the second quarter ended June 30th, 2008. The dividend is payable on or about August 14th, 2008 to shareholders of record on August 4th, 2008.

About OceanFreight Inc.
OceanFreight Inc. was incorporated in 2006 to acquire high quality secondhand vessels and deploy them on medium and long term charters. The Company began operations with the delivery of its first vessel in June 2007 and currently owns and operates a fleet of eleven vessels, consisting of one Capesize drybulk carrier, eight Panamax drybulk carriers, one Suezmax tanker and one Aframax tanker with a total carrying capacity of 978,889 dwt.

OceanFreight’s Inc. common stock is listed on the NASDAQ Global Market where it trades under the symbol "OCNF".

OceanFreight Inc. press release