SOURCE: OceanFreight Inc.

September 12, 2008 09:17 ET

OceanFreight Inc. to Present at the Jefferies Conference in New York City

ATHENS, GREECE--(Marketwire - September 12, 2008) - OceanFreight Inc. (NASDAQ: OCNF), a global provider of marine transportation services, announced today that the Company Chief Operating Officer, Michael Gregos, will be presenting at the Jefferies 5th Annual Shipping, Logistics and Offshore Services Conference on Tuesday, September 16, 2008 at 8:30 am EDT in New York City.

A PDF version of the presentation will be available in the Investor Relations section of the OceanFreight Inc. website at www.oceanfreightinc.com.

About OceanFreight Inc.

OceanFreight Inc. was incorporated in 2006 to acquire high quality secondhand vessels and deploy them on medium and 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 eleven vessels, consisting of one Capesize drybulk carrier, eight Panamax drybulk carriers, one Suezmax tanker and one Aframax tanker with a total carrying capacity of 978,889 dwt, and has entered into an agreement to acquire an additional Aframax tanker with a carrying capacity of 95,793 dwt.

OceanFreight's Inc. common stock is listed on the NASDAQ Global Market where it trades under the symbol "OCNF."

Forward-Looking Statement

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 charterhire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in OceanFreight Inc.'s operating expenses, including bunker prices, dry-docking and insurance costs, 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 and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by OceanFreight Inc. with the US Securities and Exchange Commission.

Visit our website at www.oceanfreightinc.com.

Contact Information