Paragon Shipping Inc. Schedules Second Quarter 2009 Earnings Release and Conference...

Paragon Shipping Inc. Schedules Second Quarter 2009 Earnings Release and
Conference Call

ATHENS, Greece, July 30 /PRNewswire-FirstCall/ -- Paragon Shipping Inc.
(Nasdaq: PRGN), a global shipping transportation company specializing in dry
bulk cargoes, today announced that its financial results for the second
quarter ended June 30, 2009 are scheduled to be released after the close of
U.S. financial markets on Tuesday, August 11, 2009.
The Company's management will conduct a conference call and simultaneous
Internet webcast to review these results at 9:00 A.M. Eastern Time on
Wednesday, August 12, 2009.
Conference Call details:
Participants should dial into the call 10 minutes before the scheduled
time using the following numbers: +1-866-288-9315 (from the US),
+44(0)800-3769-250 (from the UK), or +30-211-180-2000 (all other callers).
The access code for the call is "909".
A telephonic replay of the conference call will be available for 90 days
by dialling +1-866-288-9317 (from the US) or +44(0)800-901-2906 (from the UK)
or +30-210-94-60-929 (all other callers). The access code for the replay is
"909#".
Slides and audio webcast:
There will also be a live webcast of the conference call and accompanying
slide presentation on the Paragon Shipping website
(http://www.paragonship.com). Please allow 15 minutes prior to the call to
visit the site and download and install any necessary audio software. The
webcast will be archived on this site for one year.
About Paragon Shipping Inc.
Paragon Shipping Inc. is an Athens, Greece-based international shipping
company specializing in the transportation of drybulk cargoes. The Company's
current fleet consists of twelve vessels with a total carrying capacity of
765,137 dwt. For further information, please visit the Company's website at
http://www.paragonship.com.
Cautionary Statement Regarding Forward-Looking Statement
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
Forward-looking statements include statements concerning plans, objectives,
goals, strategies, future events or performance, and underlying assumptions
and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intends," "estimate," "forecast," "project,"
"plan," "potential," "will," "may," "should," "expect" "pending and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's examination of
historical operating trends, data contained in our records and other data
available from third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we will
achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in
our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the strength of world
economies and currencies, general market conditions, including fluctuations
in charter rates and vessel values, changes in demand for dry bulk shipping
capacity, changes in our operating expenses, including bunker prices,
drydocking and insurance costs, the market for our vessels, availability of
financing and refinancing, changes in governmental rules and regulations or
actions taken by regulatory authorities, potential liability from pending or
future litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political events,
vessels breakdowns and instances of off-hires and other factors. Please see
our filings with the Securities and Exchange Commission for a more complete
discussion of these and other risks and uncertainties.
Contacts:

Christopher Thomas

Chief Financial Officer
Paragon Shipping Inc.
15, Karamanli Ave. GR 166 73
Voula, Greece
Tel: +30-(210)-8914-600

Eric Boyriven, Alexandra Tramont
FD
Tel: +1-(212)-850-5600

SOURCE Paragon Shipping Inc

Contacts: Christopher Thomas, Chief Financial Officer, Paragon Shipping Inc.,
15, Karamanli Ave. GR 166 73, Voula, Greece, Tel: +30-(210)-8914-600. Eric
Boyriven, Alexandra Tramont, FD, Tel: +1-(212)-850-5600