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$49.5mn for Capesize

$49.5mn for Capesize
OceanFreight Inc., has agreed to acquire a 2005 built 180,263 dwt Capesize bulk carrier for a purchase price of $49.5 million.

OceanFreight Inc., has agreed to acquire a 2005 built 180,263 dwt Capesize bulk carrier for a purchase price of $49.5 million.

OceanFreight Inc., a global provider of seaborne transportation services for both drybulk and energy commodities, announced yesterday it has agreed to acquire a 2005 built 180,263 dwt Capesize bulk carrier for a purchase price of $49.5 million. The vessel is scheduled for delivery in Q2 2010. Anthony Kandylidis, Chief Executive Officer of the Company, commented: "We are very pleased to have acquired a fourth high quality modern Capesize vessel, utilizing the equity proceeds recently raised. Moving forward, our strong balance sheet allows us to continue to look for further opportunities to renew and grow the fleet".

OceanFreight Inc., is an owner and operator of both drybulk and tanker vessels that operate worldwide. As of the date of this release, OceanFreight owns a fleet of 12 vessels, comprised of 8 drybulk vessels (2 Capesize, 6 Panamaxes) and 4 crude carrier tankers (1 Suezmax, 3 Aframaxes) with a combined deadweight tonnage of about 1.2 million tons.

OceanFreight Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "OCNF".

www.TurkishMaritime.com.tr

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