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Paragon Shipping Announces Date Of Fourth Quarter And Year End 2011 Results, Conference Call And Webcast

Stocks in this article: PRGN

ATHENS, Greece, Feb. 13, 2012 /PRNewswire/ -- Paragon Shipping Inc. (NYSE: PRGN) ("Paragon Shipping" or the "Company"), a global shipping transportation company specializing in drybulk cargoes, announced today that it will release its results for the fourth quarter and year ended December 31, 2011, after the market closes in New York on Thursday, February 16, 2012. Paragon's management team will host a conference call to discuss the Company's financial results on Friday, February 17, 2012, at 8:30 am EST.

Conference Call details:

Participants should dial into the call ten minutes before the scheduled time using the following numbers 1-877-317-6789 ( USA) or +1-412-317-6789 (international) to access the call. A replay of the conference call will be available until February 24, 2012 and can be accessed by dialing 1-877-344-7529 ( USA) or +1-412-317-0088 (international) and using passcode 10010171.

Slides and audio webcast:

There will also be a simultaneous live webcast through the Company's website, www.paragonship.com. Participants should register on the website approximately ten minutes prior to the start of the webcast.

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 ten drybulk vessels with a total carrying capacity of 704,772 dwt. In addition, Paragon Shipping entered into contracts for the construction of four Handysize drybulk carriers that are scheduled to be delivered in 2012 and two 4,800 TEU Containerships that are scheduled to be delivered in 2013 and, as a result, will increase the fleet size to fourteen drybulk vessels with a total carrying capacity of 853,572 dwt and two Containerships with a total carrying capacity of 9,600 TEU. 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.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include without limitation 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, as well as other risks that have been included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov.

Contacts

Paragon Shipping Inc. info@paragonship.com

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

SOURCE Paragon Shipping Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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