SOURCE: Quintana Maritime Limited

November 09, 2006 12:20 ET

Quintana Maritime Limited to Present at the Citigroup Transportation Conference in New York

ATHENS, GREECE -- (MARKET WIRE) -- November 9, 2006 -- Quintana Maritime Limited (NASDAQ: QMAR), a leading international provider of dry bulk transportation services, announced today that Stamatis Molaris, the company's President and Chief Executive Officer, will be presenting at the Citigroup Twenty-First Annual Transportation Conference, which will take place in New York City at the Le Parker Meridien on Tuesday, November 14, 2006, at 4:10 p.m. EST.

A live audio webcast of Quintana's presentation will be available for a period of 90 days on Citigroup's website at http://www.veracast.com/webcasts/citigroup/transportation06/62113169.cfm. The same webcast along with a PDF version of the slide presentation will also be available on the Quintana Maritime corporate website at www.quintanamaritime.com in the Investor Relations section.

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 20 vessels, consisting of 8 Kamsarmax bulker, 10 Panamax size vessels and 2 Capesize vessels with a total carrying capacity of 1,726,652 dwt and an average age of 4.7 years on a dwt weighted average. It has also entered into an agreement to take delivery of 7 additional vessels, comprising of 1 Panamax and 6 Kamsarmax bulkers with expected delivery between November 2006 and May 2007 and with an aggregate capacity of 570,229 dwt. Once all acquisitions are completed Quintana will have a fleet of 27 dry bulk vessels which consists of 2 Capesize vessels, 11 Panamax vessels and 14 Kamsarmax vessels with a total capacity of 2,296,881 dwt.

Forward-Looking Statement

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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