Vessel Acquisition

RNS Number:8278Y
Global Oceanic Carriers Ltd
22 June 2007


Press Release                                                      22 June 2007






                        Global Oceanic Carriers Limited



                        ("GO Carriers" or "the Company")



                               Vessel Acquisition



Global Oceanic Carriers Limited (AIM:GOC), the Greek-based drybulk shipping
company, today announces that it has entered into an agreement to purchase a
Handymax vessel for US$38.3 million. The Vessel, acquired from IZMIR DEMIR CELIK
SANAYI A.S. will be renamed GO Star and is scheduled to be delivered in October
2007. Go Star was built in Japan in 1994 and has a DWT of 43,656.



GO Star will operate under a fixed-rate period time charter of 3 years with
BREAKBULK MARINE SERVICES LTD (BMS) at a rate of USD 26,500 per day.



Commenting on the vessel acquisition, Michael Tartsinis, Chief Executive Officer
of Global Oceanic Carriers, said: "We are delighted with the acquisition of GO
Star. The vessel will be financed by additional banking facilities. The purchase
of the vessel supports our expansion plans and will increase our fleet to a
total of 6 vessels, with a carrying capacity of 411,400 Dwt. In accordance with
our strategy, we have secured a fixed rate period of employment for GO Star,
which will further strengthen the profitability of the Company. We look forward
to further grow with suitable vessel acquisitions as opportunities emerge".



                                    - 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
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