Contact Information: Contact: Investor Relations / Media: Nicolas Bornozis Capital Link, Inc., New York Tel. 212-661-7566 E-mail: oceanfreight@capitallink.com
OceanFreight Inc. Announces the Appointment of Chief Operating Officer
| Source: OceanFreight Inc.
ATHENS, GREECE--(Marketwire - January 14, 2008) - OceanFreight Inc. (NASDAQ : OCNF ), a global
provider of seaborne transportation services, announced today that Michael
Gregos was appointed as the Company's Chief Operating Officer. The search
for a Chief Financial Officer is still ongoing.
Prior to joining OceanFreight in September 2007, Michael Gregos was Project
Manager for Dynacom Tankers Management Ltd. which he joined in 2001. Prior
to that period, he worked for a shipping concern based in Athens and New
York for five years and the Corporate Finance arm of a Greek bank for one
year. He is a graduate from Queen Mary University in London and holds an
MSc in Shipping, Trade and Finance from City University.
Mr. Kandylidis, the Chief Executive Officer of OceanFreight, commented:
"We are delighted to welcome Mr. Michael Gregos as our new Chief Operating
Officer. We are confident that he will make a significant contribution to
our company."
About OceanFreight Inc.
OceanFreight Inc. is a global provider of seaborne transportation services
through the ownership and operation of vessels in various shipping sectors.
The Company owns a fleet of 10 vessels, consisting of 1 Capesize bulk
carrier, 8 Panamax bulk carriers, and 1 Aframax tanker with a total
carrying capacity of approximately 830,000 deadweight tons.
The Company's shares are listed on the NASDAQ Global Select Market and
trade 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.