Charter update

RNS Number:5749W
Global Oceanic Carriers Ltd
15 May 2007


Press Release                                                       15 May 2007






                        Global Oceanic Carriers Limited



                        ("GO Carriers" or "the Company")



                                 Charter update



Global Oceanic Carriers Limited (AIM:GOC), the Greek-based drybulk shipping
company, today announces it has secured long term charters for its vessels Go
Pride and Go Faith.

GO Pride: has been fixed for a period of 12 months at the rate of US$18,500 per
day, which is almost double the previous rate of US$9,275.  The new charter is
scheduled to commence on June 2007.



GO Faith: has been fixed for a period of 12 to 14 months at the rate of US$
28,000 per day commencing end of May 2007.



Commenting on the new charters, Michael Tartsinis, Chief Executive Officer of
Global Oceanic Carriers, said: "I am delighted to be able to confirm these new
charters which we have secured at very favourable rates.  Following the
completion of these deals 100% of the entire GO fleet's operating days are
secured under period charter for 2007 and 79% for 2008."



                                    - Ends -



For further information:
Global Oceanic Carriers Limited
Michael Tartsinis, Chief Executive Officer               Tel: [phone]
[e-mail]                                     www.gocarriers.com


Jefferies International Limited
Andrew Meigh                                           Tel: [phone]
[e-mail]                                           www.jefferies.com



Media enquiries:
Abchurch
Henry Harrison-Topham / Charlie Jack                   Tel: [phone]
[e-mail]                               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 five 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, two Handysize bulk carriers and
one Capesize with an aggregate carrying capacity of 367,774 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
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