SOURCE: Quintana Maritime Limited

April 26, 2007 16:10 ET

Quintana Maritime Limited Announces Date for the Release of First Quarter 2007 Results, Dividend Declaration, Conference Call and Webcast

Earnings Release: Monday, May 7th, 2007, Before Market Opens

Conference Call and Webcast: Monday, May 7th, 2007, at 10:00 am EDT

ATHENS, GREECE -- (MARKET WIRE) -- April 26, 2007 -- Quintana Maritime Limited (NASDAQ: QMAR) announced today that it will release its results for the first quarter ended March 31, 2007 before the open of the market on Monday, May 7th, 2007.

The declaration of the Company's dividend for the first quarter of 2007 will also be announced at that time.

On Monday, May 7, 2007 at 10:00 A.M. EDT, the company's management will host a conference call to discuss the results.

Conference Call details:

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 866 819 7111 (US Toll Free Dial In), 0800 953 0329 (UK Toll Free Dial In) or +44 (0)1452 542 301 (Standard International Dial In). Please quote "Quintana."

In case of any problems with the above numbers, please dial 1 866 223 0615 (US Toll Free Dial In), 0800 694 1503 (UK Toll Free Dial In) or +44 (0)1452 586 513 (Standard International Dial In). Quote "Quintana."

A telephonic replay of the conference call will be available until May 14th, 2007 by dialing 1 866 247 4222 (US Toll Free Dial In), 0800 953 1533 (UK Toll Free Dial In) or +44 (0)1452 550 000 (Standard International Dial In). Access Code: 1859591#

Slides and audio webcast:

There will also be a live, and then archived, webcast of the conference call, available through Quintana Maritime's website ( Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.


Quintana Maritime Limited, based in Greece, is an international provider of dry bulk cargo marine transportation services. As of today, the company owns and operates a fleet of 29 vessels, including 14 Kamsarmax bulkers, 11 Panamax size vessels and 4 Capesize vessels with a total carrying capacity of 2,473,881 dwt and an average age of 4.0 years on a dwt weighted average. In addition, Quintana is a 42.8% owner in a joint venture that has recently ordered a Capesize newbuilding of an aggregate capacity of 180,000 dwt with expected delivery ex-yard in March 2010. In addition, Quintana will hold a 50% interest in two joint ventures that will own two Capesize newbuildings of an aggregate capacity of 362,000 dwt with expected delivery ex-yard in fourth quarter 2010. In addition, Quintana has recently entered into an agreement to acquire an additional newbuild Capesize vessel with 180,000 dwt cargo capacity with expected delivery ex-yard in fourth quarter 2008. Once all acquisitions and newbuild orders are completed and assuming no vessel disposals, Quintana will have a fleet of 33 dry bulk vessels, including 8 Capesize vessels, 11 Panamax vessels and 14 Kamsarmax vessels, with a total capacity of 3,366,043 dwt. The deadweight average age of the whole fleet, including the Capesize vessels on order, currently is 2.5 years.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenues and time charters. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

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