REMINDER: CEOs of Paragon Shipping, Safe Bulkers, Seanergy

REMINDER: CEOs of Paragon Shipping, Safe Bulkers, Seanergy Maritime
Holdings Corp., and Star Bulk Carriers to Participate in Dry Bulk
Shipping Webinar 
TODAY -- Tuesday, June 7, 2011 at 11:00 AM EDT 
NEW YORK, NY -- (Marketwire) -- 06/07/11 --   Chief Executive
Officers from leading publicly listed shipping companies will
participate in a panel discussion on dry bulk sector trends and
emerging BRIC economies, Brazil, Russia, India and China and their
impact on dry bulk shipping. The panel participants are: 

--  Paragon Shipping (NYSE: PRGN), Mr. Michael Bodouroglou, Chairman of
    the Board of Directors and Chief Executive Officer.
--  Safe Bulkers (NYSE: SB), Mr. Polys Hajioannou, Chairman of the Board
    of Directors and Chief Executive Officer
--  Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), Mr. Dale Ploughman,
    Chairman of the Board of Directors and Chief Executive Officer
--  Star Bulk Carriers (NASDAQ: SBLK), Mr. Spyros Capralos, Chief
    Executive Officer, President and Director
--  The discussion will be moderated by Mr. Ben Nolan, Director and Head
    of Shipping Research, Knight Capital Group, Inc. (NYSE: KCG)

The live webinar is scheduled for Tuesday, June 7, 2011 at 11:00 am EDT
(4:00 pm London, 5:00 pm Paris, 6:00 pm Athens). 
The Dry Bulk Shipping CEO Discussion Webinar is organized by Capital
Link, a New York-based Investor Relations and Financial
Communications firm with strategic focus on shipping. 
 The panel discussion can be accessed
through a live audio webcast at or
through Capital Link's Shipping Website 
Participants to the live webcast should register on the website
approximately ten minutes prior to the start of the webcast. To
register and access the event, visit 
After the event, the panel discussion will remain archived and
accessible through the webpage, 
 The focus of the discussion (and the Q&A) will be
only on sector trends and fundamentals, and not on company specifics
or company recommendations. The discussion will cover several topics
including, demand, supply, freight rates and asset values,
valuations, focus on current trends and the sector's outlook. 
 Participants can submit questions to the
panelists prior to or during the event through the special feature on
the event page, or they can email them to Capital Link at 
 A transcript of the
panel discussion will be publicly available at no cost within
approximately 48 hours after the event and those interested can
request it when they register for the event or afterwards through the
event page at websites indicated. 
 With well over half of the world's total seaborne
dry bulk trade either originating from or destined for Brazil,
Russia, India, or China, the fate of the dry bulk shipping sector is
inexorably linked to these developing nations. Furthermore, not only
do the BRIC countries make up the majority of existing demand, but
ship owners have staked the future of their businesses on continued
robust demand growth from China and India as well as dry bulk supply
growth from Brazil and to a lesser extent Russia. Despite dry bulk
demand growth of 12% in 2010 and industry expectations for 2011
demand growth of over 5%, the Baltic Dry Index was down 46% in 2010
and is down another 25% since the start of 2011. Clearly a lack of
demand is not to blame for the currently challenging state of the dry
bulk shipping market, although flooding in Australia and the
earthquake in Japan have compounded the problem. However, the real
silver bullet has been the tremendous growth of new vessels entering
the market with net fleet growth of 16% in 2010 and already another
5% thus far in 2011. Through the course of this webinar the panel
participants will explore the potential for trade, specifically
focused on that from BRIC countries, to absorb the existing
oversupply of dry bulk vessels. Additionally, the panel will examine
the future of vessel supply looking for a light at the end of the
currently dark tunnel. As part of the discussion, several of the
specific items to be targeted include: 

--  What is impact of restrictive monetary policy from China and India on
    dry bulk demand?
--  Is infrastructure in BRIC nations keeping up with demand growth for
    the commodities?
--  How will Very Large Ore Carriers influence future trading dynamics?
--  How significant is recovery in Australia and Japan on balancing ship
--  What strategies by ship owners can be used reduce supply and gain
    pricing power?

 International shipping plays a vital role in
global trade given that 2/3 of the world's goods are transported by
sea. The shipping industry provides a cost effective and practical
means of transportation internationally of large volumes of cargoes. 
The dry bulk carrier market refers to the transportation of
homogeneous commodities in bulk. Dry bulk commodities are divided
into two distinct categories, major bulks and minor bulks. Major
bulks include iron ore, coal and grain, which are usually shipped on
the larger size Capesize, Kamsarmax and Panamax vessels and comprise
about 67% of dry bulk trade. Minor bulks are fertilizers, steels,
sugars, cement etc., which are shipped in smaller more versatile
vessels such as Supramax, Handymax and Handysize, and comprise about
33% of the dry bulk commodities trade. 
Dry bulk carrier ownership is fragmented with many owners and
operators of shipping tonnage, including independent operators,
state-controlled shipping companies and proprietary owners. Vessels
utilized for transport of dry bulk cargoes are usually classified
into four categories based on their carrying capacity in deadweight
tons (DWT) (i) handysize (10,000-39,999 DWT) (ii) handymax/supramax
(40,000-59,999 DWT) (iii) panamax (60,000-99,999 DWT) and (iv)
capesize (higher than 100,000 DWT). 
The shipping industry is highly cyclical, experiencing volatility in
profitability, vessel values and charter rates resulting from changes
in the supply of and demand for shipping capacity. Fluctuations
result from the interaction of various factors between demand and
supply. The demand for vessels is influenced by global and regional
economic conditions, international trade developments, port
congestion, trading routes and weather pattern changes, crop yields,
armed conflicts, political developments, embargoes and strikes,
demand for consumer goods, dry bulk commodities, and crude oil and
oil products. 
Supply of shipping capacity is mainly a function of the delivery of
new vessels and the number of older vessels scrapped and is also
affected among other factors by port congestion and regulation of
maritime transportation practices by governmental and international
About Paragon Shipping Inc. (NYSE: PRGN)
 Paragon Shipping Inc. is an
Athens, Greece-based international shipping company specializing in
the transportation of drybulk cargoes and containers. The Company's
current fleet consists of eleven drybulk vessels with a total
carrying capacity of 747,994 dwt. 
For further information please visit the Company's website at 
About Safe Bulkers, Inc. (NYSE: SB)
 The Company is an international
provider of marine drybulk transportation services, transporting bulk
cargoes, particularly coal, grain and iron ore, along worldwide
shipping routes for some of the world's largest users of marine
drybulk transportation services. The Company's common stock is listed
on the NYSE, where it trades under the symbol "SB." The Company's
current fleet consists of 16 drybulk vessels, all built post-2003,
and the Company has contracted to acquire 11 additional drybulk
newbuild vessels to be delivered at various times through 2014. For
further information please visit the Company's website at 
About Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) 
Maritime Holdings Corp. is a Marshall Islands corporation with its
executive offices in Athens, Greece. The Company is engaged in the
transportation of dry bulk cargoes through the ownership and
operation of dry bulk carriers. The Company's current fleet consists
of 20 drybulk carriers (four Capesize, three Panamax, two Supramax,
one Handymax and ten Handysize vessels) with a total carrying
capacity of approximately 1,293,693 dwt and an average fleet age of
13.5 years. The Company's common stock and warrants trade on the
NASDAQ Global Market under the symbols "SHIP" and "SHIP.W,"
respectively. For further information please visit the Company's
website at 
About Star Bulk Carriers (NASDAQ: SBLK)
 Star Bulk is a global
shipping company providing worldwide seaborne transportation
solutions in the dry bulk sector. Star Bulk's vessels transport major
bulks, which include iron ore, coal and grain and minor bulks such as
bauxite, fertilizers and steel products. Star Bulk was incorporated
in the Marshall Islands on December 13, 2006 and maintains executive
offices in Athens, Greece. Its common stock trades on the Nasdaq
Global Market under the symbol "SBLK." Currently, Star Bulk has an
operating fleet of eleven dry bulk carriers, definitive agreements to
build two Capesize vessels and definitive agreements to acquire two
Capesize vessels. The total fleet consists of fifteen vessels, seven
Capesize, and eight Supramax dry bulk vessels with a combined cargo
carrying capacity of 1,626,721 deadweight tons. The average age of
their current operating fleet is approximately 11 years. For further
information please visit the Company's website at 
About Capital Link 
 Capital Link is a New York-based advisory,
investor relations and financial communications firm. Capital Link
has made a strategic commitment to the shipping industry, becoming
the largest provider of investor relations and financial
communications services to international shipping companies listed on
both the US and European Exchanges. Capital Link's headquarters are
in New York, with a presence in London and Athens. Capital Link is a
member of the Baltic Exchange. 
Contact for Capital Link Shipping:
Nicolas Bornozis
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel. (212) 661-7566
Fax (212) 661-7526
Event Website:
Shipping Portal:
Corporate Website: 
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