OceanFreight Inc. Announces Postponement of 2009 Annual General Meeting of Shareholders

ATHENS, GREECE--(Marketwire - June 15, 2009) - OceanFreight Inc. (NASDAQ: OCNF), a global provider of marine transportation services (the "Company"), today announced that the annual meeting of shareholders (the "Annual Meeting") to be held at the Company's offices located at 80 Kifissias Avenue, GR 151 25, Marousi, Athens, Greece will be postponed from its originally scheduled date of Thursday, June 25, 2009 to Monday, July 13, 2009 at 10:00 a.m., Athens time. The Company has amended its proposal (Proposal Two) to increase its authorized capital stock to provide that only the authorized common stock will be increased. The authorized preferred stock will remain the same. The postponement will afford the Company's shareholders sufficient time to consider the matters on the agenda.

The close of business on Thursday, May 14, 2009, will remain as the record date for the determination of the shareholders entitled to receive notice and to vote at the Annual Meeting or any adjournments or postponements thereof.

In connection with the postponement of the Annual Meeting and the amendment to the Proposal Two, the Company will distribute to shareholders and file a supplement to its proxy statement and an amended proxy card in due course. When available, these materials will also appear on the following website: www.ocnf.agmdocuments.com.

About OceanFreight Inc.

OceanFreight Inc. is an owner and operator of both drybulk and tanker vessels that operate worldwide. As of the day of this release, OceanFreight owns a fleet of 13 vessels comprised of 9 drybulk vessels (1 Capesize, 8 Panamaxes) and 4 crude carrier tankers (1 Suezmax, 3 Aframaxes) with a combined deadweight tonnage of about 1.2 million tons.

OceanFreight Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "OCNF."

Visit our website at www.oceanfreightinc.com.

Contact Information: Company Contact: Demetris Nenes Tel: +30-210-8090-514 E-mail: management@oceanfreightinc.com Investor Relations/Media: Nicolas Bornozis Capital Link, Inc. (New York) Tel: +1-212-661-7566 E-mail: oceanfreight@capitallink.com