FreeSeas Inc. Announces 2009 First Quarter Financial Results

First Quarter 2009 Financial Highlights
* Operating revenues of $17.6 million, an increase of 103% year-over-year
* Net income of $6.2 million, or $0.29 earnings per share, basic and diluted
* Adjusted EBITDA of $11.9 million
* Cash flow from operations of $8.7 million

First Quarter 2009 Operating Highlights
* Nine Handysize / Handymax vessels owned and operated during the period, earning an average Time Charter Equivalent, or TCE, of $20,334 per day
* Fleet utilization of 99.9%

DryShips Announces It Has Reached Agreement With HSH as Agent on Waiver Terms

DryShips Inc. (NasdaqGS:DRYS) (the "Company" or "Dryships"), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has reached agreement with HSH Nordbank as agents on waiver terms for $654 million of our outstanding debt.George Economou, Chairman and Chief Executive Officer, commented: "We are delighted to have reached an agreement with HSH as agents on this major facility. This facility covers 23 of our drybulk vessels. This agreement is a testament of the support of the syndicate led by HSH Nordbank to DryShips."

Atlas Air Worldwide Holdings, Inc. Expects 2008 Pretax Earnings from Operations of $55 to $60 Million Before Nonrecurring Special Items

Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo assets and services, said today that it expects 2008 full-year pretax earnings from operations to total $55 to $60 million, excluding special gains and charges. Cash, cash equivalents and short-term investments totaled approximately $410 million on December 31.

AAWW’s 2008 results are expected to include a previously disclosed deferred gain of approximately $155 million pretax related to DHL Express’ investment in a 49% equity interest (including a 25% voting interest) in Polar Air Cargo Worldwide, Inc.

DryShips Reaches Preliminary Agreement for Covenant Waiver and Deferral of Loan Installments With Piraeus Bank

DryShips Inc. (NasdaqGS:DRYS ), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has reached an in principle agreement with Piraeus Bank, one of its largest lenders, to restructure its two loan facilities in the original aggregate principal amount of $220.0 million with current outstanding $164.9 million.