Paragon Shipping Inc. Announces Recent Developments on its Debt Agreements, New building Contracts and Other Corporate Actions

Air Transport Services Group Confirms Deal with Amazon to Operate Air Transport Network

Network to include 20 ATSG-owned Boeing 767s, logistics support; Amazon granted rights to purchase ATSG equity

WILMINGTON, Ohio--- Air Transport Services Group, Inc. (Nasdaq:ATSG) announced today agreements with Amazon Fulfillment Services, Inc., an affiliate of Amazon.com, Inc. (Nasdaq:AMZN), to operate an air cargo network to serve Amazon customers in the United States.

“Since last summer, we have been working closely with Amazon to demonstrate that a dedicated, fully customized air cargo network can be a strong supplement to existing transportation and distribution resources,” said Joe Hete, President and CEO of ATSG. “We are excited to serve Amazon customers by providing additional air cargo capacity and logistics support to ensure great shipping speeds for customers.”

TOP Ships Inc. Announces Corporate Developments

ATHENS, Greece, Feb. 01, 2016 -- TOP Ships Inc. (TOPS) (the “Company”), an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced today the following corporate developments.

Delivery of M/T Eco Revolution

The Company took delivery of the M/T Eco Revolution, a 39,000 dwt fuel efficient "ECO" MR product tanker, the fourth of six vessels under construction in the Company's fleet. The remaining two vessels are scheduled for delivery in the second and third quarter of 2016.

Golar LNG and Schlumberger sign Memorandum of Understanding

HAMILTON, Bermuda, Jan. 22, 2016 -- Golar LNG today announced that it has signed a Memorandum of Understanding with Schlumberger to co-operate on the global development of greenfield, brownfield and stranded gas reserves.

Under the Memorandum, Golar and Schlumberger have agreed to jointly market gas monetization solutions to owners, investors and governments. Golar will contribute the Floating LNG assets and technology while Schlumberger, via its special project management division, will provide upstream development knowledge, resources and capital. The intention of this integrated offer is to gain access to a wide range of uneconomic gas reserves by delivering low-cost LNG production solutions.