Paragon Shipping Inc. Reports Second Quarter and Six Months Ended June 30, 2014 Results

Athens, Greece - September 2, 2014

Paragon Shipping Inc. (NASDAQ: PRGN) ("Paragon Shipping" or the "Company"), a global shipping transportation company specializing in drybulk cargoes, announced today its results for the second quarter and six months ended June 30, 2014.

Second Quarter 2014 Highlights
• Net revenue, net of voyage expenses of $9.7 million in the second quarter of 2014
• Reduced average daily vessel operating expenses by 12.0% year-over-year
• Adjusted EBITDA of $0.9 million in the second quarter of 2014
• Adjusted net loss of $5.6 million, or $0.23 per common share in the second quarter of 2014

Related Downloads: Q214 - PRGN Earnings Release.pdf

Paragon Shipping Inc. press release