SOURCE: Five Star Equities

Five Star Equities

February 14, 2012 08:20 ET

Greece Passes New Austerity Deal - Excel Maritime Carriers and Paragon Shipping Look to Benefit

Five Star Equities Provides Stock Research on Excel Maritime Carriers & Paragon Shipping

NEW YORK, NY--(Marketwire - Feb 14, 2012) - Greek shipping stocks have been on the upswing this year after a challenging 2011 on hopes of a global economic rebound. Greek ship owners control 25 percent of the world tanker fleet. Shipping accounts for 6 percent of Greece's GDP and generates 75 percent of the country's estimated 400,000 jobs tied to maritime activities, according to George Gratsos, president of the Hellenic Chamber of Shipping. Five Star Equities examines investing opportunities in the Shipping Industry and provides stock research on Excel Maritime Carriers Ltd. (NYSE: EXM) and Paragon Shipping Inc. (NYSE: PRGN). Access to the full company reports can be found at:

www.fivestarequities.com/EXM
www.fivestarequities.com/PRGN

At the start of the week, Greece's parliament passed a controversial package of austerity measures, demanded by the eurozone and IMF in return for a 130bn-euro ($170bn) bailout to avoid default. The Parliament gave the government the authority to sign a new loan agreement with the foreign lenders and approve a broader arrangement to reduce the amount Greece must repay to its bondholders.

According to a recent report from The New York Times, the new austerity measures include, among others, a 22 percent cut in the benchmark minimum wage and 150,000 government layoffs by 2015.

Five Star Equities releases regular market updates on the Shipping Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.fivestarequities.com and get exclusive access to our numerous stock reports and industry newsletters.

With Greece's unemployment rate well above 20 percent, some experts continue to question the health of the shipping industry. Dimitri Papadimitriou, president of the Levy Economics Institute at Bard College in Annandale-on-Hudson, NY, recently told CNNMoney that "Greece is highly dependent on shipping from an employment perspective. It's hard to be confident."

On the upside, Greek shipping's cooperation with China is helping the industry weather the challenging economic storm. Last year China agreed in October to set up a 10 billion dollar fund to help Greek shipowners buy Chinese-made vessels. "China has pledged that the financing terms for Greek companies will be better than those offered by any other bank in the world," Greece's Maritime Affairs minister said.

Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: www.fivestarequities.com/disclaimer

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