Excel Maritime Enters Charter Agreement for M/V Elinakos

Excel Maritime Carriers Ltd. has chartered M/V Elinakos for a period of minimum 23 up to maximum 25 months at US $58,000 per day to a first class charterer. M/V Elinakos is a Panamax dry bulk carrier of 73,751 dwt, built in 1997 in Japan, which the company acquired and took delivery of in May 2005.