HCL.L Regulatory News (HCL)

16 Apr 2008 07:01

Hellenic Carriers Limited16 April 2008 FOR IMMEDIATE RELEASE Fleet Employment Update HELLENIC CARRIERS CHARTERS "M/V HELLENIC HORIZON" FOR US$38,000 PER DAY Press Release 16 April 2008 Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM: HCL), aninternational provider of marine transportation services for dry bulk cargoes,today announced that it has entered into a time charter agreement for the M/VHellenic Horizon for a trip from the North Pacific to the Indian sub-continentwith a duration of approximately two months (65-70 days) at the gross rate ofUS$38,000 per day. The charter commenced on 15 April, 2008. The M/V Hellenic Horizon is a 44,800 dwt Handymax built in 1995 at HallaEngineering, & Heavy Industries, Korea. Fotini Karamanlis, Chief Executive Officer, commented: "Hellenic has achieved astrong fixture for M/V HELLENIC HORIZON at a gross rate of US$38,000 per day, asignificant increase compared to her previous gross charter hire of US$25,750per day. This fixture exemplifies our strategy of opportunistically seekingshorter term coverage in the near term in conjunction with long term employmentproviding visibility of cash flows. With this fixture, our time chartercoverage for the full year 2008 increases to 67%." For further information please contact: Hellenic Carriers LimitedFotini Karamanlis, Chief Executive OfficerE-mail: info@hellenic-carriers.com +30 210 455 8900 Jefferies International LimitedNick Davies +44 20 7029 8000Schuyler Evans Capital Link Inc.Ramnique Grewal +1 212 661 7566 (New York)Vice President +44 20 7614 2950 (London)E-Mail: helleniccarriers@capitallink.com The Fleet Deployment of Hellenic is as follows: Vessel Type Year Yard Carrying Charter T/C Daily Built Capacity Type Expiration Charter (dwt) Date (1) Rate US$ (Gross) M/V Hellenic Panamax 1993 Tsuneishi 69,601 T/C 15/06/2008 64,000 Breeze Shipbuilding, JapanM/V Hellenic Sky Panamax 1994 Sasebo Heavy 68,591 T/C 27/11/2008 23,000 Industries, JapanM/V Hellenic Sea Panamax 1991 Jiangnan 65,434 T/C 30/05/2009 37,500 Shipyard, China M/V Hellenic Handymax 1995 Halla 44,809 T/C 23/06/2008 38,000 Horizon Engineering & Heavy Industries, KoreaM/V Konstantinos Supramax 2000 Mitsui 50,326 T/C 30/06/2010 64,250(2) D Engineering & Shipbuilding, Japan To be delivered Vessel Type Year Yard Carrying Charter T/C Daily Delivery Built Capacity Type Expiration Charter Date (dwt) Date (1) Rate US$ (Gross)M/V Orchid Star, Panamax 1997 Tsuneishi, 74,000 N/A N/A N/A 1 March to be renamed Shipbuidling 2008 Japan - 31 May 2008 Total Fleet: 6 Vessels 372,761 (1) The latest charter expiration date represents the last day on which thecharterer may redeliver the vessel to us upon the termination of the charterassuming that all options for additional hire periods under our charter areexercised. (2) For the period from the date of delivery to the 365th day of the charterand thereafter at a rate of US$48,250 per day. Further Information - Notes to Editors Hellenic Carriers Limited owns and operates a fleet of dry bulk vessels thattransport iron ore, coal, grain, steel products, cement, alumina, and other drybulk cargoes worldwide. Its current fleet consists of five vessels, comprisingthree Panamaxes, one Handymax and one Supramax. The Company has also contractedto acquire a Panamax vessel with expected delivery between 1 March and May 312008. Including the new Panamax vessel to be delivered, Hellenic's fleet has anaggregate carrying capacity of 372,761 dwt and an average age of 13 years as at31 March 2008. This information is provided by RNS The company news service from the London Stock Exchange