Excel Maritime Takes Physical Delivery of MV Princess I and MV Angela Star

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargo has announced today that it has taken physical delivery of two vessels, MV Princess I at the port of Izmit in Turkey and MV Angela Star at the port of Taean in South Korea. MV Princess I is a Handymax bulk carrier of 38,858 dwt built in 1994 and MV Angela Star is a Panamax bulk carrier of 73,798 dwt built in 1998. Both vessels were built in Japan. The company agreed to acquire MV Princess I on February 21, 2005 and MV Angela Star on March 23, 2005. CEO Christopher Georgakis commented: "We are very pleased to have taken delivery of MV Princess I and MV Angela Star. With these deliveries in place the company has successfully taken physical delivery of 14 vessels within the past six months."