Delivery of Seventh Vessel

RNS Number:1251K
Global Oceanic Carriers Ltd
18 December 2007




       Global Oceanic Carriers Ltd. Takes Delivery of its Seventh Vessel

ATHENS, GREECE - December 18, 2007 - Global Oceanic Carriers Limited (AIM:GOC)
("GOC" or "the Company"), a global provider of marine transportation services
for dry bulk cargoes, announces today that it has taken delivery of the M/V "GO
Star", a Handymax bulk carrier, which the Company had previously agreed to
acquire for USD 38.3 million.

The M/V "GO Star" was built in Japan in 1994 and has a carrying capacity of
43,656 dwt. As announced on June 22, 2007, the vessel has been secured under a
fixed-rate period time charter for 3 years with Breakbulk Marine Services, an
established Belgian operator, at the gross rate of USD 27,000 per day.

Including the GO Star, the  Company's current fleet includes seven dry bulk
carriers, comprised of one Capesize, two Panamax, three Handymax and one
Handysize vessel with an aggregate carrying capacity of 456,273 dwt.

The Company has secured under fixed rate time charter employment 83% of its
fleet operating days for calendar 2008 and 48% for calendar 2009.

Michael Tartsinis, Chief Executive Officer of Global Oceanic Carriers Limited,
commented: "We are pleased to announce that we have taken delivery of our
seventh vessel, the M/V "GO Star", thereby expanding our revenue and profit
generation capacity.  The period employment we secured for the M/V "GO Star" is
consistent with our fleet deployment strategy aimed to provide strong and
sustainable cash flows for the longer term with first class charterers, thereby
minimizing our counterparty risk. We intend to continue with our fleet expansion
plans focusing on selective and accretive vessel acquisitions."



Fleet profile

As of December 18, 2007, the composition and employment of our fleet is as
follows:


Vessel Name        Type         DWT       Year     Charter           Charter Period  Expected      Daily
                                          Built    Commencement                      Redelivery    Charter Hire
                                                                                     (Minimum      (US$)
                                                                                     Period)
GO Patoro          Capesize     150,108   1991     Jun-07            36 months       Jun-10        32,000 (1)
GO Public          Panamax      71,761    1993     Dec-06            23-25 months    Nov-08        21,000
GO Faith           Panamax      65,125    1984     May-07            12-14 months    May-08        28,000
GO Trader          Handymax     45,693    1996     Jan-07            26-29 months    Mar-09        19,250
GO Friendship      Handymax     44,875    1994     Sept-07           36 months       Sept-10       26,850
GO Star            Handymax     43,656    1994     Dec-07            36 months       Dec-10        27,000
GO Pride           Handysize    35,055    1982     Jun-07            12 months       Jun-08        18,500
FleetTotal:

7 Vessels                       456,273



(1)   The M/V "GO Patoro" is currently employed under a time charter until June
2010. For the first year of the time charter ending June 2008, the daily charter
rate is USD 32,000. The rate for the second and third year ending June 2009 and
2010 will be USD 27,000 and USD 22,000 respectively.



For further information please contact:

Global Oceanic Carriers Limited
Michael Tartsinis, Chief Executive Officer
Tel: + 30 210 898 6362
E-mail: mtartsinis@gocarriers.com
www.gocarriers.com


Jefferies International Limited
Nick Davies
Schuyler Evans
Tel. + 44 (0) 207 029 8000


Investor Relations / Media Relations:
Natassa Markopoulou
Capital Link, Inc. (London)
Tel. +44 (0)207 614 2950
E-mail: gocarriers@capitallink.com


Paul Lampoutis
Capital Link, Inc. (New York)
Tel. +1-212-661-7566
E-mail: gocarriers@capitallink.com
www.capitallink.com


Further Information - Notes to Editors


About the Company

Global Oceanic Carriers Limited is a global provider of marine transportation
services for dry bulk cargoes through the ownership, management and chartering
of dry bulk carriers. The Company is incorporated in Jersey and has its
principal executive offices in Athens, Greece.

The Company's current fleet includes seven dry bulk carriers, comprised of one
Capesize, two Panamax, three Handymax and one Handysize vessel with an aggregate
carrying capacity of 456,273 dwt.


GO Carriers is listed on the AIM market and its stock code is GOC.



Forward-Looking Statement

Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect the current views of Global Oceanic Carriers
Limited ("the Company") with respect to future events and financial performance
and may 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 forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although the Company believes 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, the Company cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.

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
changes in charter hire rates and vessel values, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled drydocking,
changes in the Company's operating expenses, including bunker prices,
dry-docking and insurance costs, or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists. The Company does not
assume, and expressly disclaims, any obligation to update these forward-looking
statements.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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