Contact Information: Company Contact: James Christodoulou Chief Financial Officer Tel. 212-488-5052 E-mail: james@oceanfreightinc.com Investor Relations / Financial Media: Capital Link - New York
OceanFreight Inc. Announces Date for the Release of Third Quarter 2007 Results, Dividend Declaration, Conference Call and Webcast
Earnings Release: Wednesday, October 24, 2007, After Market Close; Conference Call: Thursday, October 25, 2007, at 8:00 A.M. EDT
| Source: OceanFreight Inc.
ATHENS, GREECE--(Marketwire - October 19, 2007) - OceanFreight Inc. (NASDAQ : OCNF ), a NASDAQ
listed bulk shipping company, announced today that it will release its
results for the third quarter period ended September 30, 2007 after the
close of the market in New York on Wednesday, October 24, 2007.
The declaration of the Company's dividend for the third quarter of 2007
will also be announced at that time.
On Thursday, October 25, 2007 at 8:00 A.M. EDT, the Company's management
will host a conference call to discuss the results.
Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time
using the following numbers: 1 866 819 7111 (US Toll Free Dial In), 0800
953 0329 (UK Toll Free Dial In) or +44 (0)1452 542 301 (Standard
International Dial In). Please quote "OceanFreight"
In case of any problems with the above numbers, please dial 1 866 223 0615
(US Toll Free Dial In), 0800 694 1503 (UK Toll Free Dial In) or +44 (0)1452
586 513 (Standard International Dial In). Quote "OceanFreight"
A telephonic replay of the conference call will be available until November
1, 2007 by dialing 1 866 247 4222 (US Toll Free Dial In), 0800 953 1533 (UK
Toll Free Dial In) or +44 (0)1452 550 000 (Standard International Dial In).
Access Code: 7445162#
Slides and Audio webcast:
There will also be a live, and then archived, webcast of the conference
call, available through OceanFreight's website (www.oceanfreightinc.com).
Participants for the live webcast should register on the website
approximately 10 minutes prior to the start of the webcast.
About OceanFreight Inc.
OceanFreight Inc. was incorporated in 2006 to acquire high quality
second-hand tonnage and deploy them on long term charters. The Company
began operations with the delivery of its first vessel in June 2007 and
currently owns and operates a fleet of 7 vessels, consisting of 1 Capesize
and 6 Panamax bulk carriers with a total carrying capacity of 591,798 dwt.
The company has also entered into agreements to acquire 2 additional
Panamax bulk carriers with delivery expected in November 2007 and January
2008. Once this acquisition is completed, OceanFreight's fleet of 9 vessels
will have a dwt weighted average age of 12 years and a total carrying
capacity of approximately 742,000 dwt. The Company's shares are listed on
the NASDAQ Global Select Market and trades under the symbol "OCNF."
Visit our website at www.oceanfreightinc.com
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views 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 OceanFreight Inc. 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, OceanFreight
Inc. 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 rates and vessel values, failure of a seller
to deliver one or more vessels to us or delay in taking delivery of one or
more vessels, default by one or more charterers of our vessels, changes in
demand that may affect attitudes of time charterers, scheduled and
unscheduled drydocking, changes in OceanFreight Inc.'s operating expenses,
length and number of off-hire periods and dependence on third-party
managers, dry-docking and insurance costs, changes in governmental rules
and regulations 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, international hostilities and political events or acts by
terrorists.
Risks and uncertainties are further discussed in documents filed by
OceanFreight Inc. with the U.S. Securities and Exchange Commission.