ATHENS, GREECE--(Marketwire - February 5, 2010) - Paragon Shipping Inc. (NASDAQ: PRGN), a
global shipping transportation company specializing in dry bulk cargoes,
announced today that the Company's Chairman and Chief Executive Officer,
Michael Bodouroglou, will present at the BB&T Capital Markets 25th Annual
Transportation Services Conference in Florida on Thursday, February 11,
2010 at 11:30 a.m. EST.
The presentation will be broadcast live over the Internet and can be
accessed at
http://www.wsw.com/webcast/bbt17/prgn/. In addition, the accompanying slide
presentation and webcast will be available in the Investor Relations
section of Paragon Shipping's website at www.paragonship.com.
About Paragon Shipping Inc.
Paragon Shipping Inc. is an Athens, Greece-based international shipping
company specializing in the transportation of drybulk cargoes. The
Company's current fleet consists of eleven vessels with a total carrying
capacity of 719,273 dwt.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. Forward-looking statements 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 Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intends," "estimate," "forecast,"
"project," "plan," "potential," "may," "should," "expect," "pending" and
similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available
from third parties. Although we believe 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, we cannot assure you that
we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other 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 fluctuations
in charter rates and vessel values, changes in demand for drybulk shipping
capacity, changes in our operating expenses, including bunker prices,
drydocking and insurance costs, the market for our vessels, availability of
financing and refinancing, charter counterparty performance, ability to
obtain financing and comply with covenants in such financing arrangements,
changes in governmental rules and regulations or actions taken by
regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political
events, vessels breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange Commission for a
more complete discussion of these and other risks and uncertainties.
Contact Information: Contacts:
Christopher Thomas
Chief Financial Officer
Paragon Shipping Inc.
15 Karamanli Ave.
GR 166 73
Voula, Greece
Tel: +30 (210) 8914 600
Investor Relations / Media
Capital Link, Inc.
Paul Lampoutis
230 Park Avenue
Suite 1536
New York, NY 10169
Tel. (212) 661-7566
E-mail: paragon@capitallink.com