News

Charter update
15 May 2007

Global Oceanic Carriers Limited ( AIM:GOC), the Greek-based drybulk shipping company, today announces it has secured long term charters for its vessels Go Pride and Go Faith.

GO Pride: has been fixed for a period of 12 months at the rate of US$18,500 per day, which is almost double the previous rate of US$9,275. The new charter is scheduled to commence on June 2007.

GO Faith: has been fixed for a period of 12 to 14 months at the rate of US$ 28,000 per day commencing end of May 2007.

Commenting on the new charters, Michael Tartsinis, Chief Executive Officer of Global Oceanic Carriers, said: "I am delighted to be able to confirm these new charters which we have secured at very favourable rates. Following the completion of these deals 100% of the entire GO fleet's operating days are secured under period charter for 2007 and 79% for 2008." 

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Notes to Editors

Global Oceanic Carriers Limited is a shipping company comprising of ship ownership, management and chartering. The Company is based in Athens, Greece and incorporated in Jersey. The Company has acquired five vessels and will use the extensive shipping experience of the management and the dynamic market conditions to build a fleet for long term charter revenue.

The Company's fleet comprises of two Panamax, two Handysize bulk carriers and one Capesize with an aggregate carrying capacity of 367,774 Dwt. Drybulk ships carry cargo that is shipped in large volumes and can be easily stowed in a single hold including iron ore, coal and grain.

GO Carriers was formed and listed on the AiM market in 2005 its stock code is GOC.L