Paragon Shipping Announces Availability Of Its Annual Report On Form 20-F

  Paragon Shipping Announces Availability Of Its Annual Report On Form 20-F

PR Newswire

ATHENS, Greece, April 3, 2013

ATHENS, Greece, April 3, 2013 /PRNewswire/ -- Paragon Shipping Inc. (NYSE:
PRGN) ("Paragon Shipping" or the "Company"), today announced that it has filed
its Annual Report on Form 20-F for the fiscal year ended December 31, 2012
(the "Annual Report") with the Securities and Exchange Commission. The Annual
Report may be accessed through the Company's website, www.paragonship.com,
under the Investor Relations section. Shareholders may also receive a hard
copy of the Annual Report, including the complete audited financial
statements, free of charge, by contacting Allen & Caron Inc., using the
contact details provided below.

About Paragon Shipping
Paragon Shipping is a Marshall Islands-based international shipping company
with executive offices in Athens, Greece, specializing in the transportation
of drybulk cargoes. The Company's current fleet consists of thirteen drybulk
vessels with a total carrying capacity of 816,472 dwt. In addition, the
Company's current newbuilding program consists of one Handysize drybulk
carrier that is scheduled to be delivered in the fourth quarter of 2013 and
two 4,800 TEU containerships that are scheduled to be delivered in 2014.
Paragon Shipping has granted Box Ships Inc., an affiliated company, the option
to acquire its two containerships under construction.

For more information, visit: www.paragonship.com. The information contained on
the Company's website does not constitute part of this press release.

Contacts:

Paragon Shipping Inc.
ir@paragonshipping.gr

Allen & Caron Inc.
Rudy Barrio (Investors)
r.barrio@allencaron.com
(212) 691-8087

Len Hall (Media)
len@allencaron.com
(949) 474-4300

SOURCE Paragon Shipping Inc.

Website: http://www.paragonship.com