ATHENS, Greece, Feb. 5, 2013 /PRNewswire/ -- Paragon Shipping Inc. (NYSE: PRGN) ("Paragon Shipping" or the "Company"), announced today that the Board of Directors of the Company has appointed Mr. Robert Perri to the position of Chief Financial Officer, effective today. Robert Perri has been the Company's financial officer since September 2010. About Paragon Shipping Inc.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 twelve drybulk vessels with a total carrying capacity of 779,270 dwt. In addition, the Company's current newbuilding program consists of two Handysize drybulk carriers that are scheduled to be delivered in 2013 and two 4,800 TEU containerships that are scheduled to be delivered in 2014. 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. ContactsParagon Shipping Inc.email@example.comAllen & Caron Inc.Rudy Barrior.firstname.lastname@example.org (212) 691-8087 SOURCE Paragon Shipping Inc.