Paragon Shipping Inc. takes delivery of its tenth

Paragon Shipping Inc. announced today that it took delivery of its tenth drybulk carrier, the Coral Seas, on November 21, 2007.

This 74,477 dwt 2006-built Panamax vessel has been chartered to Bunge S.A. pursuant to a time charter with a remaining period of approximately 23 to 25 months at a rate of $54,000 per day.