Exhibit 99.1 MEMORANDUM OF AGREEMENT SALEFORM 1993 Dated 3rd March 2005 Contract No. 2005/01 Gemport Gemlik Liman Ve Depolama Isletmeleri A.S. Kocacukur Mevkii P.K.101 16600, Gemlik, Bursa, Turkey. hereinafter called the Sellers, have agreed to sell,...Memorandum of Agreement • March 16th, 2005 • Excel Maritime Carriers LTD • Deep sea foreign transportation of freight • London
