Monaco- January 27, 2010: 

MC Shipping Inc regrets to announce that Tony Crawford, its CEO, passed away this weekend

after an extended illness. The Board and the Company extend their sincerest condolences to the

Crawford family at this trying time. In lieu of flowers, the family has asked that donations be

made to St. Bartholemew's Hospital, West Smithfield, London.

Tony was a very well known and respected figure in the industry, including being one of the

founders of V. Ships during his long and successful career. His wit, intelligence, and friendship

will be very much sadly missed.

Anton Pardini, Chairman of the Board and a board member since 2004, will formally assume Mr

Crawford's duties and responsibilities with immediate effect. Mr Pardini had already been

actively involved in the management of the Company since 2008, and the Company expects

customers and suppliers will see no change in operations.