Exhibit 99.1 SALEFORM 1993 MEMORANDUM OF AGREEMENT Dated 22nd February, 2005 Owneast Shipping Limited, Hong Kong hereinafter called the Sellers, have agreed to sell, and Castalia Services Ltd, of Monrovia, Liberia hereinafter called the Buyers, have...Memorandum of Agreement • March 8th, 2005 • Excel Maritime Carriers LTD • Deep sea foreign transportation of freight • London
