Paragon Orders Kamsarmax Bulk Carriers from Yangzijiang

PRESS RELEASE - ATHENS, Greece (March 5, 2014) - Paragon Shipping Inc. (NASDAQ: PRGN) ("Paragon Shipping" or the "Company"), a global shipping transportation company specializing in drybulk cargoes, announced today that it has signed shipbuilding contracts for three eco-design Kamsarmax drybulk carriers. These eco-design Kamsarmax newbuildings have a carrying capacity of 81,800 … [Read more...]

Paragon Shipping Acquires Ultramax Newbuilds

Paragon Shipping Inc. (NASDAQ: PRGN), an Athens-based dry bulk shipper has announced an acquisition worth approximately $53.0 million for two 63,500 dwt Ultramax bulk carriers currently under construction at Yangzhou Dayang Shipbuilding, a Sinopacific Shipbuilding subsidiary. The news follows their announcement last week of the completion of their public offering of … [Read more...]

Suffering in the Dry Bulk Market, Paragon Shipping Reaches Financial Agreements with Lendors

After suffering nearly USD $19 million in losses in the 3rd quarter, Paragon Shipping Inc. (NYSE: PRGN) has been working diligently with their lenders to come to agreements on how to move forward, and sustainably during the deep and sustained downturn in the dry bulk shipping market. Over the past week, Paragon announced they had reached agreements with five of their … [Read more...]

Paragon Shipping Delays Newbuild Deliveries

Greece-based Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, revealed plans Wednesday to delay the delivery of four newbuilds with Zhejiang Ouhua Shipbuilding Co. in an effort to conserve cash after posting a third quarter loss. In a release highlighting its third quarter and nine month results ending September … [Read more...]