Hellenic Carriers Limited Sale of Vessel (7765I)

TIDMHCL

RNS Number : 7765I

Hellenic Carriers Limited

30 March 2015

Hellenic Carriers Limited

Press Release 30 March 2015

SALE OF VESSEL

Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, is pleased to announce that, in continuation of its fleet renewal program, its wholly owned subsidiary Arkadia Maritime Corp. has completed the sale of the 1995-built at Halla Engineering & Heavy Industries, Korea 44,809 dwt Handymax dry bulk carrier, M/V Hellenic Horizon.

M/V Hellenic Horizon was sold to an unaffiliated third party for a total cash consideration of US$3.8 million.Taking into account the vessel's net book value and expenses related to the sale, the Company expects to realise a net book loss of approximately US$3.9 million on this sale. The proceeds from the sale will be used to repay bank debt and strengthen the Company's balance sheet.

For further information please contact:

Hellenic Carriers Limited

Fotini Karamanli, Chief Executive Officer

   E-mail: [e-mail]                                   [phone] 

Charles Stanley Securities

Nominated Adviser & Broker

   Mark Taylor                                                                  [phone] 
   Carl Holmes                                                                 [phone] 

Capital Link

Nicolas Bornozis [phone] (New York)

Maria Chercheletzi [phone] (London)

E-mail: [e-mail]

Further Information - Notes to Editors

About Hellenic Carriers Limited

Hellenic Carriers Limited owns and trades through its subsidiaries a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. The fleet consists of five vessels, including one Panamax, twoSupramax and two Kamsarmax vessels with an aggregate carrying capacity of 340,055 dwt and a weighted average age of 9.4 years.

Hellenic Carriers is listed on the AIM of the London Stock Exchange under ticker HCL.

This information is provided by RNS

The company news service from the London Stock Exchange

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