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GOC Announces Charter Agreement

June 20, 2008

Global Oceanic Carriers Limited announced that it has entered into a time charter agreement with Oldendorff Carriers GMBH & CO KG for the M/V Go Pride for a minimum period of 35 days at the gross rate of $44,000 or $45,000 per day and a ballast bonus of $375,000 or $400,000 depending on port of discharge. The charter is expected to commence on or about 26 June 2008.  The M/V Go Pride is a handysize bulk carrier built in 1982 with a carrying capacity of 35,055 dwt.

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