OceanFreight Inc. to Present at the Jefferies Shipping Conference in New York
ATHENS, GREECE--(Marketwire - September 20, 2007) - OceanFreight Inc. (NASDAQ: OCNF), a NASDAQ
listed bulk shipping company, today announced that Mr. Bob Cowen, the
company's Chairman and Chief Executive Officer, will be presenting at the
Jefferies Fourth Annual Shipping Conference, which will take place in New
York City on Wednesday, September 26, 2007 at 9:15 a.m. EDT.
A live and then archived audio webcast of OceanFreight's presentation will
be available on the Jefferies website at
http://www.wsw.com/webcast/jeff19/ocnf. A PDF version will also be
available on OceanFreight's corporate website at www.oceanfreightinc.com in
the Investor Relations section.
About OceanFreight Inc.
OceanFreight Inc. was incorporated in 2006 to acquire high quality
second-hand tonnage and deploy them on long-term charters. The Company
began operations with the delivery of its first vessel in June 2007 and
currently owns and operates a fleet of 7 vessels, consisting of 1 Capesize
and 6 Panamax bulk carriers with a total carrying capacity of 591,798 dwt.
The company has also entered into agreements to acquire 2 additional
Panamax bulk carriers with delivery expected in November 2007 and January
2008. Once this acquisition is completed, OceanFreight's fleet of 9 vessels
will have a dwt weighted average age of 12 years and a total carrying
capacity of approximately 742,000 dwt. The Company's shares are listed on
the NASDAQ Global Select Market and trades under the symbol "OCNF."
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
Risks and uncertainties are further discussed in documents filed by
OceanFreight Inc. with the U.S. Securities and Exchange Commission.
Contact Information: Company Contact:
Chief Financial Officer
Tel. (212) 488-5052
Investor Relations / Financial Media:
Capital Link - New York