Paragon Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting drybulk cargoes, including such commodities as iron ore, coal, grain and other materials, along shipping routes across the world. Its operating fleet consists of eight Panamax drybulk carriers, two Ultramax drybulk carriers, two Supramax drybulk carriers and four Handysize drybulk carriers with an aggregate capacity of over 980,380 deadweight tonnage (dwt) and an average age of 7.6 years. Allseas Marine S.A. (Allseas) and Seacommercial Shipping Services S.A (Seacommercial) provide commercial and technical management services for its fleet. The Company primarily employs its vessels in the spot charter market, on short-term time charters or on voyage charters, ranging from 10 days to three months.