Excel Maritime Carriers Ltd.

Gabriel Panayotides has been the Chairman of the Board since February 1998. Mr. Panayiotides has participated in the ownership and management of ocean going vessels since 1978. He is also a member of the Greek Committee of Bureau Veritas, an international classification society. He holds a Bachelors degree from the Piraeus University of Economics. Mr. Panayotides is a member of the Board of Directors of D/S Torm. Following the resignation of Mr. Christopher I. Georgakis in February 2008, Mr. Panayotides acted as the Company's Chief Executive Officer until Mr. Stamatis Molaris was appointed in April 2008.

Eleftherios A. Papatrifon was appointed Chief Financial Officer on January 1, 2005. Mr Papatrifon joins the Company from Geniki Bank of Greece, a subsidiary of Societe Generale, where he served as Head of Investment Banking. He brings fifteen years of experience in Corporate Finance and Asset Management, having previously served as a portfolio manager for The Prudential Insurance Company of America, as well as increasingly responsible positions in the banking and financial services sectors in Greece. He holds both a BBA and an MBA from Baruch College of the City University of New York and is a member of the CFA Institute and a CFA charter holder.

George Agadakis has been Vice President and a Director of the Company since November 1997. He is the Shipping Director of Maryville and was General Manager of Maryville from January 1992 to January 2001. From 1983 to 1992 he served as Insurance and Claims Manager for Maryville. He has held positions as Insurance and Claims Manager and as a consultant with three other shipping companies since 1976. He holds diplomas in Shipping and Marine Insurance from the Business Centre of Athens (1973), the London School of Foreign Trade Ltd (1975) and the London Chamber of Commerce (1975).

Trevor J. Williams has been a Director of the Company since November 1988 and has been principally engaged as President and Director of Consolidated Services Limited, a Bermuda-based firm providing management services to the shipping industry since 1985.

Evangelos Macris is a member of the Bar Association of Athens and is the founding partner of Evangelos S. Macris Law Office, a Piraeus based office specializing in Shipping Law. He holds a degree in Economics and Political Science from the Pantion University in Athens and a Law Degree from the University of Athens, as well as a post graduate degree in Shipping Law from the University of London, University College.

Georgina E. Sousa has been Secretary of the Company since February 1998. She joined the Bermuda law firm of Cos & Wilkinson in 1982 as Senior Company Secretary and served in that capacity until 1993 when she joined Consolidated Services Limited as Manager of Corporate Administration, a position she currently holds. From 1976 to 1982, Ms. Sousa was employed as Company Secretary by the Bermuda law firm of Appleby, Spurling & Kemp. She acts as Company Secretary of several private companies and of Chemgas Ltd. and Resource Financing and Investment Ltd. No family relationships exist among any of the executive officers and Directors.

Charles Brock is Chairman and Chief Executive Officer of Brock Capital Group. In the last thirty years, Mr. Brock has served as Director and Audit Chair of five public companies and managed a variety of businesses. He headed the twelve subsidiaries of Compton Communications (now Saatchi & Saatchi) and the five subsidiaries of Scholastic, Inc., where he was also Chief Financial Officer and Chief Operating Officer as well as General Counsel. He was Partner at Carter, Ledyard & Milburn and an Associate at Sullivan & Cromwell. Mr. Brock is the immediate past President of the Harvard Alumni Association, a Regent of Cathedral of St. John the Divine, a Trustee of the Appleseed Foundation and on the Board of Visitors of Northwestern University's College of Arts and Sciences. He is former Chairman of Guild Hall (museum and theatre) and former President of the Harvard Law School Association. Mr. Brock received his undergraduate degree from Northwestern University and his law degree from Harvard Law School. He also completed the Advanced Management Program at Harvard Business School.

Corbin J. Robertson, Jr. is the Chief Executive Officer and Chairman of the Board of Directors of GP Natural Resource Partners LLC. Mr. Robertson has served as the Chief Executive Officer and Chairman of the Board of the general partners of Western Pocahontas Properties Limited Partnership since 1986, Great Northern Properties Limited Partnership since 1992 and Quintana Minerals Corporation since 1978 and as Chairman of the Board of Directors of New Gauley Coal Corporation since 1986. He is a former Chairman of the Baylor College of Medicine and serves as Chairman of the Board of the Cullen Trust for Higher Education and on the boards of the American Petroleum Institute, the National Petroleum Council, and the World Health and Golf Association. In October 2006, Mr. Robertson was inducted into the Texas Business Hall of Fame.

Deborah L. Paterson has been Secretary of the Company since 26th January, 2007. Deborah joined Clipper Oil Company Limited, Bermuda, as Company Secretary and served in that capacity until 1986 when she joined Consolidated Services Limited as a Corporate Manager to a number of companies in the shipping industry. Deborah acts as Company Secretary to many private and public companies, including B+H Ocean Carriers Ltd.. Deborah was appointed a Director of Consolidated Services Limited in 1988.