Gabriel Panayotides has been the Chairman of the Board since February 1998. Mr. Panayotides has participated in the ownership and management of ocean going vessels since 1978. He is also a member of the Greek Committee of Bureau Veritas, an international classification society. He holds a Bachelors degree from the Piraeus University of Economics. Mr. Panayotides is also a member of the Board of Directors of D/S Torm. Mr. Panayotides acted as the Company's Chief Executive Officer from February 2008 to April 2008.

Charalampos (Babis) Mazarakis was appointed Chief Operating Officer in May, 2010. Mr. Mazarakis has 20 years of experience in finance and operations positions, mostly at senior level. Mr. Mazarakis started his career in 1991 at Procter & Gamble in Greece. From 1999 to 2008 Mr. Mazarakis held a number of senior positions within the Vodafone Group, namely Group CFO in Greece, Interim CEO in Hungary and COO in Greece. In 2008, Mr. Mazarakis moved to Titan Cement Group (an international building materials company) as Group CFO. Mr. Mazarakis holds an undergraduate degree in business administration from the University of Piraeus, Greece and an MBA from The Ohio State University, USA.

Pavlos Kanellopoulos was appointed Chief Financial Officer in April 2010. Mr. Kanellopoulos has 15 years of experience in banking and finance positions, mostly at a senior level. He started his career in the International Banking Division of the Bank of Tokyo-Mitsubishi in London. Since 2003, Mr. Kanellopoulos held CFO positions with companies in the manufacturing and TMT sectors, most recently as Group CFO at Forthnet SA, the largest alternative telecom and pay-TV operator in Greece. Mr. Kanellopoulos has studied at the Athens University of Economics, the University of Warwick and the London School of Economics and holds a BSc and MSc (Econ).

Thomas Kaas Christiansen was appointed Chief Commercial Officer in January 2010. Christiansen, Danish national, joined the company from a similar position as Vice President of Athens based SwissMarine. Prior hereto he has, since the beginning of his career as a graduate of the MISE management program with AP Moller-Maersk, held various Management and Commercial positions of increasing depth within the organizations throughout Europe, South East Asia and the Mediterranean. He brings more than a decade of experience in commercial management and leadership with him and is an ICS, London chartered broker, Shipping Finance and Management Graduate and is part of the Executive Education program at Harvard Business School.

Ismini Panayotides has been Business Development Officer at Excel Maritime Carriers Ltd. since March 2006 and Secretary of the Board of Directors since September 2008. She completed her studies in 2005, and has been working intermittently with her undergraduate and graduate studies in the chartering and operations departments of Excel Maritime Carriers Ltd. as well as in the management of Maryville Maritime Inc., a wholly-owned subsidiary of Excel, since 1999. Ms. Panayotides holds an undergraduate (BA) degree from the School of Management, Boston University (2004), and a Master of Science (MSc) in Shipping Trade and Finance from City University, Cass Business School, in London (2005).