Fleet Deployment Update

Hellenic Carriers Limited

Fleet Deployment Update

Press Release 2 June 2010

M/V HELLENIC SEA TIME CHARTERED AT US$23,300 PER DAY FOR 11-13 MONTHS

Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces today that its wholly owned subsidiary Patmos Shipping Co. Ltd. ("Patmos"), the ship owning company of the M/V Hellenic Sea, has entered into a time charter agreement with Setsea S.p.A., an unaffiliated third party Company for a period of minimum 11 to about 13 months at a gross rate of US$23,300 per day.

The charter commenced on 29 May, 2010. The earliest expiration date is 29 April 2011.

The M/V Hellenic Sea is a 65,434dwt Panamax built in 1991 at Jiangnan Shipyard, China.

ENDS

For further information please contact:

Hellenic Carriers Limited

Fotini Karamanlis, Chief Executive Officer

E-mail: [email protected] +30 210 455 8900

Jefferies International Limited

Anne Dovigen +44 (0) 20 7029 8000

Oliver Griffiths

Capital Link 

Ramnique Grewal +1 212 661 7566 (New York)

Annie Evangeli +44 (0) 20 3206 1320 (London)

E-mail: [email protected]

Further Information - Notes to Editors

About Hellenic Carriers Limited

Hellenic Carriers Limited manages through Hellenic Shipmanagement Corp. a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. Currently the fleet consists of six vessels, comprising four Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of 372,742 dwt.