New one-year time charters for two vessels of Excel Maritime Carriers Ltd.

News Release Excel Maritime Carriers, Ltd. May 23, 2012

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ATHENS, GREECE – 21 May 2012 
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 today that it entered into new period
charter agreements for yet another two of its vessels, as follows: 
Kamsarmax M/V Iron Vassilis (82,257 dwt; built in 2006) and Panamax M/V Grain
Express (76,466 dwt; built in 2004) have been fixed for a period of 10 -13
months at a gross daily rate of $11,000. 
Following these fixtures, the Company’s charter coverage for the full year
2012 is: 
 72% for the entire fleet; 
 100% for the Capesize fleet. </DIV></BODY></HTML>