News Release

News Release Excel Maritime Carriers, Ltd. July 6, 2011

ATHENS, GREECE – 6 July 2011
Today Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers
and an international provider of worldwide seaborne transportation services for dry bulk
cargoes, announced it has entered into period charter fixtures for yet another two vessels in
its Kamsarmax/ Panamax fleet.
Namely, the Company has agreed the employment of M/V Iron Vassilis, a 2006 built
Kamsarmax with 82,257 dwt carrying capacity at a gross daily rate $14,000, and of M/V
Happy Day, a 1997 built Panamax with 71,694 dwt carrying capacity at a gross daily rate of
$13,000, for a period of 11 to 14 months with quality European charterers.
The new fixtures elevate the Company’s contracted coverage levels at:
? 78% of its fleet available days now fixed for 2011,
? 44% of its fleet available days now fixed for the next 12 months, and
? 92% and 79% of its Capesize fleet available days fixed for 2011 and 2012
respectively.
Pavlos Kanellopoulos, Chief Financial Officer of the Company, commented: “We are pleased
to have fixed another two of our vessels into long term time charters with good quality
charterers and increase further our cash flow visibility for 2011 and 2012.”