Posted on Friday, May 7 2010
ATHENS, Greece, May 6, 2010 - Paragon Shipping Inc. (the "Company") (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, announced today that it has exercised its previously announced options to build two additional Handysize drybulk carriers and two additional Kamsarmax drybulk carriers with expected deliveries in the third and fourth quarters of 2012, respectively.