Change of Fiscal Year End

    


Global Oceanic Carriers



                       Change of Accounting Reference Date

Global Oceanic Carriers Limited ("Global Oceanic" or "the Company") (AIM:GOC), a
global provider of marine transportation services for dry bulk cargoes,
announces today that it has changed its fiscal year end from May 31 to December
31.

The Company will publish unaudited results for the six month period ended
November 30, 2007 and audited results for the seven months period ended December
31, 2007. These are expected to be released by the end of February 2008 and
March 2008 respectively.

Michael Tartsinis, Chief Executive Officer of Global Oceanic Carriers Limited,
commented: "This change of our fiscal year end aligns Global Oceanic with the
majority of other publicly listed shipping companies, thereby making it easier
for the investment community to follow the development and progress of our
company."

For further information please contact:

Global Oceanic Carriers Limited
Michael Tartsinis, Chief Executive Officer
Tel: + 30 210 898 6362
E-mail: [e-mail]
www.gocarriers.com

Jefferies International Limited
Nick Davies
Tel. + 44 (0) 207 029 8000
E-mail: [e-mail]

Investor Relations / Media:
Natassa Markopoulou
Capital Link (London)
Tel. + 44 (0) 207 614 2950
E-mail: [e-mail]

Paul Lampoutis
Capital Link (New York)
Tel. [phone]
E-mail: [e-mail]
www.capitallink.com

Further Information - Notes to Editors

About the Company

Global Oceanic Carriers Limited is a global provider of marine transportation
services for dry bulk cargoes through the ownership, management and chartering
of dry bulk carriers. The company is incorporated in Jersey and has its
principal executive offices in Athens, Greece.

The company's current fleet includes six dry bulk carriers, comprised of one
Capesize, two Panamax, two Handymax and one Handysize vessel. Global Oceanic
Carriers has also entered into agreement to acquire a Handymax vessel scheduled
for delivery in November 2007, thereby expanding its fleet to a total of seven
dry bulk carriers with an aggregate carrying capacity of 456,273 dwt.

GO Carriers is listed on the AIM market and its stock code is GOC.

Forward-Looking Statement

Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect the current views of Global Oceanic Carriers
Limited ("the Company") with respect to future events and financial performance
and may 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 forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although the Company believes 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, the Company cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.

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
changes in charter hire rates and vessel values, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled dry-docking,
changes in the Company's operating expenses, including bunker prices,
dry-docking and insurance costs, or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists. The Company does not
assume, and expressly disclaims, any obligation to update these forward-looking
statements.