Contact Information: Contact: Investor Relations / Media: Nicolas Bornozis Capital Link, Inc., New York Tel. 212-661-7566 E-mail: oceanfreight@capitallink.com
OceanFreight Inc. Announces Delivery of Suezmax Tanker
| Source: OceanFreight Inc.
ATHENS, GREECE--(Marketwire - January 23, 2008) - OceanFreight Inc. (NASDAQ : OCNF ), a global
provider of seaborne transportation services announced that it has taken
delivery of a 1996 built Suezmax tanker, a vessel that the Company had
agreed to acquire in December 2007.
The 149,085 dwt Suezmax tanker was delivered to OceanFreight on January 17,
2008 and, as previously announced, will trade in the spot market for the
short term.
Anthony Kandylidis, Chief Executive Officer of OceanFreight commented:
"We are pleased to have taken delivery of our eleventh vessel which
successfully completes the first phase of our growth strategy. Since going
public in April 2007, we have expanded our fleet from 7 to 11 vessels by
fully utilizing our new revolving credit facility. Going forward our main
focus will remain to provide our shareholders with broad shipping industry
exposure and fixed rate period charters with visible cash flows to support
our stated dividend policy."
About OceanFreight Inc.
OceanFreight Inc. is a global provider of seaborne transportation services
through the ownership and operation of vessels in various shipping sectors.
The Company owns a fleet of 11 vessels, consisting of 1 Capesize bulk
carrier, 8 Panamax bulk carriers, 1 Suezmax and 1 Aframax tanker with a
total carrying capacity of approximately 1 million deadweight tons.
The Company's shares are listed on the NASDAQ Global Select Market and
trade under the symbol "OCNF."
Visit our website at www.oceanfreightinc.com.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views 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 OceanFreight Inc. 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, OceanFreight
Inc. 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 rates and vessel values, failure of a seller
to deliver one or more vessels to us or delay in taking delivery of one or
more vessels, default by one or more charterers of our vessels, changes in
demand that may affect attitudes of time charterers, scheduled and
unscheduled drydocking, changes in OceanFreight Inc.'s operating expenses,
length and number of off-hire periods and dependence on third-party
managers, dry-docking and insurance costs, changes in governmental rules
and regulations 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, international hostilities and political events or acts by
terrorists.
Risks and uncertainties are further discussed in documents filed by
OceanFreight Inc. with the U.S. Securities and Exchange Commission.