Fleet Deployment Update

Hellenic Carriers Limited

Fleet Deployment Update

Press Release 14 May 2010

M/V HELLENIC HORIZON TIME CHARTERED AT US$30,000 PER DAY FOR 5-7 MONTHS

Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces today that its wholly owned subsidiary Arkadia Maritime Corp. ("Arkadia"), the ship owning company of the M/V Hellenic Horizon, has entered into a time charter agreement with an unaffiliated third party Company for a period of 5-7 months at a gross rate of US$30,000 per day.

The charter commenced on 11 May, 2010.

The M/V Hellenic Horizon is a 44,809dwt Handymax built in 1995 at Halla Engineering & Heavy Industries, Korea.

ENDS

For further information please contact:

Hellenic Carriers Limited

Fotini Karamanlis, Chief Executive Officer

E-mail: info@hellenic-carriers.com +30 210 455 8900

Jefferies International Limited

Anne Dovigen +44 (0) 20 7029 8000

Oliver Griffiths

Capital Link 

Ramnique Grewal +1 212 661 7566 (New York)

Annie Evangeli +44 (0) 20 3206 1320 (London)

E-mail: helleniccarriers@capitallink.com

Further Information - Notes to Editors

About Hellenic Carriers Limited

Hellenic Carriers Limited manages through Hellenic Shipmanagement Corp. a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. Currently the fleet consists of six vessels, comprising four Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of 372,742 dwt.