Contact Information: Company Contact: Paul J. Cornell Chief Financial Officer Tel. 713-751-7525 E-mail: pcornell@quintanamaritime.com Investor Relations / Financial Media: Paul Lampoutis Capital Link, Inc, New York Tel. 212.661.7566 E-mail: plampoutis@capitallink.com
Quintana Maritime Limited Declares a Dividend of $0.24 per Share and Announces Date for the Release of Fourth Quarter and Full Year 2006 Results, Conference Call and Webcast
| Source: Quintana Maritime Limited
ATHENS, GREECE -- (MARKET WIRE) -- February 20, 2007 -- Quintana Maritime Limited (NASDAQ : QMAR )
announced today that its Board of Directors has declared a dividend of
$0.24 per share relating to the fourth quarter of 2006, payable on March
16, 2007 to all shareholders of record as of March 2, 2007. The dividend
payment of $0.24 per share is consistent with the minimum guidance provided
by the Board of Directors to shareholders for a minimum annualized payment
of $0.96 per share for 2007.
Quintana Maritime Limited also announced that it will release its results
for the fourth quarter and full year ended December 31, 2006 after the
close of the market on Tuesday, March 6, 2007.
On Wednesday, March 7, 2007 at 10:00 A.M. EST, 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 (from the US), 0800 953 0329
(from the UK) or +44 (0)1452 542 301 (from outside the US). Please quote
"Quintana."
In case of any problems with the above numbers, please dial 1 866 869 2352
(from the US), 0800 694 1449 (from the UK) or +44 (0)1452 560 304 (from
outside the US). Quote "Quintana."
A telephonic replay of the conference call will be available until March
14th, 2007 by dialing 1 866 247 4222 (from the US), 0800 953 1533 (from the
UK) or +44 (0)1452 550 000 (from outside the US). 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
(www.quintanamaritime.com). Participants for the live webcast should
register on the website approximately 10 minutes prior to the start of the
webcast.
ABOUT QUINTANA MARITIME LIMITED
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 25 vessels, including 12 Kamsarmax bulkers, 11
Panamax size vessels and 2 Capesize vessels with a total carrying capacity
of 2,132,281 dwt and an average age of years on a dwt weighted average. It
has also entered into agreements to acquire 2 additional Kamsarmax bulkers
with expected delivery between March and May 2007 and with an aggregate
capacity of 164,600 dwt. In addition, Quintana has recently entered into
agreements to acquire 2 Capesize vessels of an aggregate 348,000 dwt with
expected delivery between March and April 2007. Once all acquisitions are
completed, Quintana will have a fleet of 29 dry bulk vessels, including 4
Capesize vessels, 11 Panamax vessels and 14 Kamsarmax vessels, with a total
capacity of 2,644,881 dwt and an average age of 3.8 years on a dwt weighted
average.
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.