News

Charter Update
19 June 2008

Athens, Greece - June 19, 2008Global Oceanic Carriers Limited (AIM:GOC), a global provider of marine transportation services for dry bulk cargoes, announced today that it has entered into a time charter agreement with OLDENDORFF CARRIERS GMBH & CO KG for the M/V GO Pride for a minimum period of 35 days at the gross rate of USD 44,000 or USD 45,000 per day and a ballast bonus of USD 375,000 or USD 400,000 depending on port of discharge. The charter is expected to commence on or about 26 June 2008.

The M/V GO Pride is a handysize bulk carrier built in 1982 with a carrying capacity of 35,055 dwt.

For further information please contact:
Global Oceanic Carriers Limited
Michael Tartsinis, Chief Executive Officer
Tel: + 30 210 898 6362
E-mail: mtartsinis@gocarriers.com
www.gocarriers.com

Jefferies International Limited
Nick Davies
Schuyler Evans
Tel. + 44 207 029 8000

Investor Relations / Media:

Paul Lampoutis
Capital Link (London) - Tel. +44 207 614 2900 
Capital Link (New York) - Tel. +1 212 661 7566
E-mail: gocarriers@capitallink.com
www.capitallink.com

Further Information - Notes to Editors

About the Company

Global Oceanic Carriers Limited is a global provider of marine transportation services for dry bulk cargoes through the ownership, management and chartering of dry bulk carriers. The company is incorporated in Jersey and has its principal executive offices in Athens, Greece.

The company’s current fleet includes seven dry bulk carriers, comprised of one Capesize, two Panamax, three Handymax and one Handysize vessel with an aggregate carrying capacity of 456,273 dwt.

GO Carriers is listed on the AIM market and its stock code is GOC

Forward-Looking Statement

Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect the current views of Global Oceanic Carriers Limited ("the Company") with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in the Company's operating expenses, including bunker prices, dry-docking and insurance costs, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. The Company does not assume, and expressly disclaims, any obligation to update these forward-looking statements.