DALLAS, March 18, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Excel Maritime Carriers Ltd. (NYSE:EXM). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/EXM
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Excel Maritime Carriers Ltd. (EXM) is a provider of worldwide sea borne transportation services for dry bulk cargo, including among others, iron ore, coal and grain, collectively referred to as "major bulks," and steel products, fertilizers, cement, bauxite, sugar and scrap metal, collectively referred to as "minor bulks." The Company's fleet is managed by one of its wholly owned subsidiaries, Maryville Maritime Inc. (Maryville). As of March 10, 2010, EXM owned and operated a fleet of 47 vessels comprising five Capesize, 14 Kamsarmax, 21 Panamax, two Supramax and five Handymax vessels with a total carrying capacity of approximately 3.9 million deadweight tonnage (dwt). Through Maryville, EXM has many long-established customer relationships, and its management believes it is well regarded within the international shipping community.
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In the report, the analyst notes:
"With a fleet of 47 vessels boasting a total carrying capacity of 3.9 million dwt and a current average age of approximately 9.7 years, EXM operates as one of the largest dry bulk shipping companies in the industry, and operates the largest dry bulk fleet by dwt operated by any U.S.-listed company.
"Earlier this month, EXM announced it has entered into time charter agreements for four Panamax vessels. In the press release, EXM CFO Lefteris Papatrifon stated, 'We are pleased to have announced these four vessel fixtures at profitable rates with first class European charterers. Our time charter coverage for 2010 now stands at 65%. Consistent with our balanced fleet deployment strategy, these charters reaffirm the Company's commitment to generate predictable cash flows and enhance shareholder value.'"
To read the entire report visit: http://www.stockpreacher.com/n/EXM
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