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      Fleet Deployment

    Vessel Type Charter Type Earliest Expiration Date
    Daily Charter Rate US$ (Gross) Charterer
    M/V Hellenic Wind Panamax Time Charter for 2 laden legs - 11,750(1) Transgrain Shipping BV
    M/V Konstantinos D Supramax Time Charter for 2 laden legs - 14,250(2) Western Bulk PTE LTD
    M/V Hellenic Horizon Handymax Trading Spot - - -
    M/V Hellenic Sky Panamax Time Charter 9 September 2011(3) 16,000 Bunge S.A.
    M/V Hellenic Sea Panamax Trading Spot - - -

    (1) If the duration of the two laden legs exceeds 100 days the time charter rate increases to US$12,500 per day for the period thereafter.
    (2) The charterers have the option to execute a third laden leg, in which case the time charter rate increases to US$14,500 for the third leg.
    (3) The vessel is expected to be redelivered to her new Owners in early October.