Excel Maritime Takes Delivery of MV Powerful, and Deploys Vessel on Two-Year Time Charter

Excel Maritime Carriers Ltd, a shipping company specializing in the seaborne transportation of dry bulk cargoes such as iron ore, coal and grains, announced that it has taken physical delivery of MV Powerful, a Panamax bulk vessel. The Company also announced the simultaneous commencement of a two-year charter for the vessel to a major charterer at US $28,000.00 per day.