ATHENS, Greece, April 3, 2013 /PRNewswire/ -- Paragon Shipping Inc. (NYSE: PRGN) ("Paragon Shipping" or the "Company"), today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2012 (the "Annual Report") with the Securities and Exchange Commission. The Annual Report may be accessed through the Company's website, www.paragonship.com, under the Investor Relations section. Shareholders may also receive a hard copy of the Annual Report, including the complete audited financial statements, free of charge, by contacting Allen & Caron Inc., using the contact details provided below. About Paragon ShippingParagon 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 thirteen drybulk vessels with a total carrying capacity of 816,472 dwt. In addition, the Company's current newbuilding program consists of one Handysize drybulk carrier that is scheduled to be delivered in the fourth quarter of 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. Contacts:Paragon Shipping Inc.firstname.lastname@example.orgAllen & Caron Inc.Rudy Barrio (Investors) email@example.com(212) 691-8087 Len Hall (Media) firstname.lastname@example.org(949) 474-4300 SOURCE Paragon Shipping Inc.