ATHENS, Greece, April 20, 2015 /PRNewswire/ -- Paragon Shipping Inc. (NASDAQ: PRGN) ("Paragon Shipping" or the "Company"), today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2014 (the "Annual Report") with the Securities and Exchange Commission. The Annual Report may be accessed through the Company's website, www.paragonship.com, under the Investor Relations section. Shareholders may also receive a hard copy of the Annual Report, including the complete audited financial statements, free of charge, by contacting Allen & Caron Inc., using the contact details provided below.

About Paragon Shipping Inc.
Paragon Shipping is an international shipping company incorporated under the laws of the Republic of the Marshall Islands with executive offices in Athens, Greece, specializing in the transportation of drybulk cargoes. Paragon Shipping's current fleet consists of sixteen drybulk vessels with a total carrying capacity of 980,399 dwt. In addition, Paragon Shipping's current newbuilding program consists of two Ultramax drybulk carriers and three Kamsarmax drybulk carriers that are scheduled to be delivered in 2015. The Company's common shares and senior notes trade on NASDAQ under the symbols "PRGN" and "PRGNL," respectively. For more information, visit: www.paragonship.com. The information contained on the Paragon Shipping's website does not constitute part of this press release.

Contacts
Paragon Shipping Inc.
ir@paragonshipping.gr

Allen & Caron Inc.
Rudy Barrio (Investors)
r.barrio@allencaron.com
(212) 691-8087

Len Hall (Media)
len@allencaron.com
(949) 474-4300

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/paragon-shipping-announces-availability-of-its-annual-report-on-form-20-f-300068393.html

SOURCE Paragon Shipping Inc.