Hellenic Carriers Limited - Fleet Deployment Update

M/V HELLENIC SEA BACK IN SERVICE

Press Release 14 December 2010

Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces today that further to our previous announcement dated 8 October 2010, the vessel Hellenic Sea is back in service.

The vessel completed hull repairs and was delivered to her charterers Setsea S.p.A. on 5 December 2010 to continue service under the time charter agreement that commenced on 29 May 2010. The daily gross rate of the fixture is US$23,300 and the earliest and latest expiration dates are 29 April and 29 June 2011 respectively.

The vessel-owning company, through its insurance policy, is covered for the cost of the repairs and the related expenses (excluding loss of the hire) above the applicable deductible (US$125,000). The M/V Hellenic Sea is a 65,434dwt Panamax built in 1991 at Jiangnan Shipyard, China.

About Hellenic Carriers Limited
Hellenic Carriers Limited manages through Hellenic Shipmanagement Corp. a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. The fleet consists of five vessels, comprising three Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of 303,141 dwt plus two new building vessels currently on order, both Kamsarmaxes with an aggregate carrying capacity of about 164,000 dwt.

Following the delivery of the two Kamsarmax vessels, the Company will manage through Hellenic Shipmanagement Corp. a fleet of seven dry bulk carriers comprising two Kamsarmaxes, three Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of about 467,141 dwt and a weighted average age of 12.5 years (as of 31 March 2013).

Hellenic Carriers is listed on the AIM of the London Stock Exchange under ticker HCL.

Hellenic Carriers Limited press release