Excel Maritime Carriers Ltd., an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it entered into new period charter agreements for yet another two of its vessels, as follows:

Kamsarmax M/V Iron Vassilis (82,257 dwt; built in 2006) and Panamax M/V Grain Express (76,466 dwt; built in 2004) have been fixed for a period of 10 -13 months at a gross daily rate of $11,000.

Following these fixtures, the Company’s charter coverage for the full year 2012 is:

- 72% for the entire fleet;

- 100% for the Capesize fleet.