GOC Global Oceanic

RNS Number:1802N
Global Oceanic Carriers Ltd
04 December 2006


Press Release                                                    4 December 2006


                        Global Oceanic Carriers Limited

                        ("GO Carriers" or "the Company")


                         Update on Vessel acquisitions


As stated in the Rights Offer Prospectus dated 6 October 2006, Global Oceanic
Carriers Limited (AIM:GOC), the Greek-based drybulk shipping company, announces
that it has already acquired the forth vessel of its fleet, the Capesize
previously named M/V Welfair.  The vessel has since been renamed GO Patoro and
was acquired for a consideration of US$36.2 million from Leadway Shipping Pte.
Ltd. of Singapore.  GO Patoro was built in the 1991 and has a Dwt of 150,108.


GO Patoro was delivered to Global Oceanic Carriers on 27 October 2006 and is
under the management of Antares Shipmanagement S.A. (under the same terms and
conditions of all Vessels of Company's fleet).  Go Patoro is currently on a
short six month time charter from November 2006 to May 2007 at a rate of
US$25,500.


From May 2007, GO Patoro will move onto a long term three year contract with a
charter rate for the first year of US$32,000, for the second year US$27,000 and
for the third year US$23,000.


In addition, the Company also announces today that it expects to take charge of
its fifth vessel of its fleet during the course of December 2006.  M/V Talisman
which will be renamed GO Trader will be delivered for a consideration of US$27.5
million from K/S Danskib 47 of Denmark.


Built in 1996, GO Trader is a Handymax and has a Dwt of 45,693.  This new vessel
will also be managed by Antares Shipmanagement S.A. and will be on a long term
contract for 26 to 29 months with a charter rate of US$19,250.


Commenting on the vessel acquisitions, Michael Tartsinis, Chief Executive
Officer of Global Oceanic Carriers Limited, said: "The successful acquisition of
GO Patoro has nearly doubled the fleet's capacity in terms of Dwt and this
position will shortly be improved upon further when the acquisition of GO Trader
is completed in the coming weeks.  We are extremely pleased to have secured
excellent charter rates for these new vessels, both of which are in line with
our stated strategic ambitions and will help to deliver further value for our
shareholders."


                                    - Ends -


For further information:

Global Oceanic Carriers Limited

Michael Tartsinis, Chief Executive Officer               Tel: 00 30 210 898 6362
mtartsinis@gocarriers.com                                     www.gocarriers.com


Media enquiries:

Abchurch
Henry Harrison-Topham / Charlie Jack                   Tel: +44 (0) 20 7398 7702
henry.ht@abchurch-group.com                               www.abchurch-group.com


Notes to Editors

Global Oceanic Carriers Limited is a shipping company comprising of ship
ownership, management and chartering.  The Company is based in Athens, Greece
and incorporated in Jersey. The Company has acquired four vessels and will use
the extensive shipping experience of the management and the dynamic market
conditions to build a fleet for long term charter revenue.


The Company's fleet comprises of two Panamax bulk carriers, one Capesize and one
Handysize vessel with an aggregate carrying capacity of 322,049 Dwt.  Drybulk
ships carry cargo that is shipped in large volumes and can be easily stowed in a
single hold including iron ore, coal and grain.


GO Carriers was formed and listed on the AiM market in 2005 its stock code is
GOC.L

                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQUUGAGPUPQGWC

Global Oceanic Carriers (LSE:GOC)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Global Oceanic Carriers (LSE:GOC)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024