Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the first quarter ended March 31, 2010. A reconciliation of the non-GAAP measures discussed above is included in a subsequent section of this release. Pavlos Kanellopoulos, Chief Financial Officer of Excel, stated, “We are pleased to report yet another profitable quarter with increased cash flow generation. We believe that our balanced fleet deployment strategy has allowed us to take advantage of the improving dry bulk market conditions and has resulted in increased EBITDA and operating cash flow compared to the respective period of last year.