Paragon Shipping Inc. is a holding Company. The Company is a global provider of shipping transportation services. It specialize in transporting drybulk cargoes, including such commodities as iron ore, coal, grain and other materials, along worldwide shipping routes. As of December 31, 2014, its operating fleet consisted of eight Panamax drybulk carriers, two Supramax drybulk carriers and four Handysize drybulk carriers with an aggregate capacity of 853,699 deadweight tonnages and an average age of seven and a half years. In October 2013, Paragon Shipping Inc completed the acquisition of two Ultramax newbuilding drybulk carriers from an affiliated entity. The Company�s Panamax drybulk carriers carry predominantly coal and iron ore for energy and steel production as well as agricultural products for food and feedstocks.