Antares Shipmanagement S.A. Appoints Henry Taibo as Executive Vice President of Corporate Development

NEW YORK, March 8, 2011 - Antares Shipmanagement S.A. has announced the appointment of Henry Taibo
as Executive Vice President, Corporate Development as well as the formation
of a representative office in New York. Reporting to the CEO, Henry will
oversee corporate development, capital raising, joint ventures, managing and
developing additional banking/capital markets relationships and other
strategic projects. His appointment is effective as of February.

"Henry brings exceptional breadth in corporate strategy, M&A, private
equity investing, and capital markets experience to Antares," stated Michael
Tartsinis, President & CEO of Antares Shipmanagement. "He will be
instrumental in the execution of our growth strategy," he added.

Mr. Taibo has over 12 years of advisory and strategic experience focused
on the transportation industry. Henry was most recently Co-Founder of the
Maritime & Logistics investment banking practice at SkyWorks Capital where he
headed coverage of sector companies. Prior to SkyWorks Capital, Henry was a
Principal with transportation fund Great Circle Capital where he was
responsible for private equity investments across all transportation modes,
including direct investments in drybulk/container shipping, offshore support
vessels (OSVs), third party logistics (3PLs), trucking, and rail companies.
While at Great Circle, Mr. Taibo completed 6 investments totaling over $115
million of invested equity capital. Henry started his career with
transportation investment bank Seabury Group. Mr. Taibo received his B.S.
from New York University's Stern School of Business.

Antares Shipmanagement S.A.

Antares Shipmanagement S.A. is a holding company for shipping assets as
well as an operator of dry-bulk and tanker vessels. Headquartered in Athens,
Antares provides technical and commercial management to ocean-going vessels.
The company ensures compliance with the ISM/ISPS codes, is accredited by
Lloyd's Register and is ISO 2001 certified. Antares is headed by Michael
Tartsinis, formerly CEO of Global Oceanic (GO) Carriers which he took private
with a consortium in 2008. Over 30 vessels have been acquired, sold or
operated under Mr. Tartsinis supervision. Mr. Tartsinis is also Chairman of
Nordia Bulk A/S, a Denmark-based dry bulk ship operating company focused on
chartering Panamax vessels.

For more information about Antares Shipmanagement, please contact Maria
Paidi at info@antares.gr or visit www.antares.gr.

Maria E. Paidi in Athens, +30-210-8986362, info at antares.gr, or Henry Taibo in New York, +1-646-234-5888, htaibo at antares.gr