MCX MC Shipping

MC Shipping Inc. (AMEX: MCX) announces a cash dividend on the below listed stock of the Company payable as following: -0- *T Title of Class of Stock : Common Distribution per Share : 6.25 cents for every share owned, rounded up to the nearest cent. Dividend Payable to Shareholders of Record at the close of business on : January 13, 2006 Distribution Date : January 27, 2006 *T This will be the Company's fourth consecutive quarterly dividend payment.