Paragon Shipping Inc.

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Paragon Shipping is an international shipping company incorporated under the laws of the Republic of the Marshall Islands with executive offices in Athens, Greece, specializing in the transportation of drybulk cargoes. Paragon Shipping’s current fleet consists of thirteen drybulk vessels with a total carrying capacity of 816,472 dwt. In addition, Paragon Shipping’s current newbuilding program consists of one Handysize drybulk carrier scheduled to be delivered in the fourth quarter of 2013, as well as two Ultramax drybulk carriers and two 4,800 TEU containerships that are scheduled to be delivered in 2014. Paragon Shipping has granted Box Ships Inc., an affiliated company, the option to acquire its two containerships under construction.

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