Three New Period Charters for Excel Maritime Carriers Ltd.

Excel Maritime Carriers Ltd.

announced today that it entered into three new period charter agreements for one Capesize and two Kamsarmax vessels. More specifically: The Capesize M/V Iron Miner (177,931 dwt; built in 2007) has been fixed for 12-18 months at a gross daily rate of $17,000; The Kamsarmax M/V Iron Fuzeyya (82,209 dwt; built in 2006) has been fixed for 22-24 months at a gross daily rate of $12,750 for the first year, and, thereafter, a gross daily rate linked to the average 4 T/C Baltic Panamax Index with a floor of $11,750 gross per day, as well as a profit-sharing component; and The Kamsarmax M/V Iron Lindrew (82,598 dwt; built in 2007) has been fixed for 22-25 months at a gross daily rate linked to the average 4 T/C Baltic Panamax Index with a floor of $12,000 gross per day, as well as a profit-sharing component.