Paragon Shipping Inc. Schedules Fourth Quarter 2007 Earnings Release
and Conference Call
ATHENS, Greece, Feb. 12, 2008 (PRIME NEWSWIRE) -- Paragon Shipping
Inc. (Nasdaq:PRGN), a global shipping transportation company
specializing in dry bulk cargoes, today announced that its financial
results for the fourth quarter ended December 31, 2007 are scheduled
to be released after the close of U.S. financial markets on
Wednesday, February 20, 2008.
The Company's management will conduct a conference call and
simultaneous Internet webcast to review these results at 9:00 A.M.
Eastern Time on Thursday, February 21, 2008.
Conference Call details:
Participants should dial into the call 10 minutes before the
scheduled time using the following numbers: + 1 866 288 9315 (from
the U.S.), + 44 (0) 800 3769 250 (from the UK), or + 30 211 180 2000
(all other callers). The access code for the call is "909".
A telephonic replay of the conference call will be available for 90
days by dialing + 1 866 288 9317 (from the U.S.), + 44 (0) 800 901
2906 (from the UK) or + 30 210 94 60 929 (all other callers). The
access code for the replay is "909#".
Slides and audio webcast:
There will also be a live webcast of the conference call and
accompanying slide presentation on the Paragon Shipping website
(www.paragonship.com). Please allow 15 minutes prior to the call to
visit the site and download and install any necessary audio software.
The webcast will be archived on this site for one year.
About Paragon Shipping Inc.
Paragon Shipping Inc. is an Athens, Greece-based international
shipping company specializing in the transportation of drybulk
cargoes. The Company's current fleet consists of eleven vessels with
a total carrying capacity of 706,358 dwt. For further information,
please visit the Company's website at www.paragonship.com.
Cautionary Statement Regarding Forward-Looking Statement
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation Reform
Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "will,"
"may," "should," "expect," "pending" and similar expressions identify
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the
strength of world economies and currencies, general market
conditions, including fluctuations in charter rates and vessel
values, changes in demand for dry bulk shipping capacity, changes in
our operating expenses, including bunker prices, drydocking and
insurance costs, the market for our vessels, availability of
financing and refinancing, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, general domestic and
international political conditions, potential disruption of shipping
routes due to accidents or political events, vessels breakdowns and
instances of off-hires and other factors. Please see our filings with
the Securities and Exchange Commission for a more complete discussion
of these and other risks and uncertainties.
CONTACT: Paragon Shipping Inc.
Christopher Thomas, Chief Financial Officer
+30 (210) 8914 600
15 Karamanli Ave.
GR 166 73