News

Interim Results for the six months ended 30 November 2006
21 February 2007

Global Oceanic Carriers (AIM:GOC), the Greek based drybulk shipping company, today announces its interim results for the six months ended 30 November 2006.

Highlights

• Revenue of US$8.94 million (2005: US$8.98 million)
  
  
• Net profit of US$160,355 (2005: loss of US$375,162)
  
  
• Successful rights offering, raising US$24.6 million (net) for the purchase of new vessels
  
  
• Two new vessels have been added to the fleet, the GO Patoro was delivered at the end of October 2006 and GO Trader was delivered in December 2006
  
  
• Efficient chartering of vessels with operational costs reduced across the fleet
  
  
• Company on track with fleet expansion strategy

Commenting on the Interim Results, Michael Tartsinis, Chief Executive Officer of Global Oceanic Carriers Limited, said: "The Company has made good progress during the first half of the year, and we are extremely pleased that GO Carriers has returned to profitability.

"The successful rights offering last October has enabled us to expand the fleet with the acquisitions of GO Patoro and GO Trader. With these additional vessels we can now expect to deliver significant profitability for the forthcoming period and we look forward to growing our fleet through further timely and selective acquisitions."

The full results are available to view and download in PDF format

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