Boston Carriers Inc. Announces Today Entering a Time Charter Contract for a Spot Voyage of the MV Nikiforos ("Nikiforos")

ATHENS, Greece, July 25, 2017 /PRNewswire/ --

Boston Carriers Inc. (OTC: BSTN) ("Boston" or the "Company") announces that on March 30, 2017 Nikiforos entered a time charter contract for transporting approximately 37,000 tons of bagged rice from South-East Asia to West Africa which until June 20, 2017 has contributed approximately 578,000 USD in the revenues of the company. Boston announces further that the aforementioned time contract was extended for a period of approximately 48 days and upon successful completion of the extended period will contribute additionally approximately 408,000 USD in revenues of the company thus having a total contribution of approximately 986,000 USD from March 30, 2017 and until approximately the middle of August 2017.

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Nikiforos is a 1996-built dry bulk Handymax vessel of 45,693 dwt and was delivered to Boston in February 2016.

Mr. Antonios Bertsos, Chairman and Chief Executive Officer, stated, "Boston's short term employment strategy allows the Company to capture any potential upside that arise in the dry bulk market."

Mr. Antonios Bertsos, added, "We believe in the dry bulk sector and will attempt to continue to grow our fleet with additional dry bulk Handysize-Handymax vessels." 

About Boston Carriers Inc.  

Boston Carriers Inc. is an international shipping company providing ideal solutions for seaborne transportation of dry bulk commodities through owned vessels. Boston is a Securities and Exchange Commission ("SEC") reporting Foreign Private Issuer in compliance with applicable SEC rules and regulations and current in its SEC reporting, utilizing U.S. Read more about Boston Carriers Inc. - http://www.bostoncarriers.com.

Safe Harbor Statement  

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Boston may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Boston's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks will be included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Boston does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor and Media Relations: 
Antonios Bertsos 
Boston Carriers Inc.
Telephone: +30-211-182-0274
Email: [email protected]

SOURCE Boston Carriers Inc.