TC Expiration
Year Age Date (minimum
CURRENT FLEET Type DWT Built (in yrs) period)
Iron Brooke(A) Kamsarmax 82,300 2007 0.0 December 2010
Iron Miner Capesize 177,000 2007 0.0 January 2012
Iron Lindrew(A) Kamsarmax 82,300 2007 0.1 December 2010
Iron Knight(A) Panamax 76,429 2004 2.8 December 2010
Coal Hunter(A) Kamsarmax 82,300 2006 0.2 December 2010
Pascha(A) Kamsarmax 82,300 2006 0.3 December 2010
Coal Gypsy(A) Kamsarmax 82,300 2006 0.3 December 2010
Iron Anne(A) Kamsarmax 82,000 2006 0.5 December 2010
Iron Vassilis(A) Kamsarmax 82,000 2006 0.6 December 2010
Iron Bill(A) Kamsarmax 82,000 2006 0.8 December 2010
Santa Barbara(A) Kamsarmax 82,266 2006 1.0 December 2010
Ore Hansa(A) Kamsarmax 82,229 2006 1.0 December 2010
Iron Kalypso(A) Kamsarmax 82,204 2006 1.2 December 2010
Iron Fuzeyya(A) Kamsarmax 82,229 2006 1.2 December 2010
Iron Bradyn(A) Kamsarmax 82,769 2005 2.1 December 2010
Grain Harvester(A) Panamax 76,417 2004 2.6 July 2009
Grain Express(A) Panamax 76,466 2004 3.0 December 2010
Kirmar(B) Capesize 165,500 2001 5.5 March 2008
Iron Beauty(B) Capesize 165,500 2001 5.7 April 2010
Coal Pride Panamax 72,600 1999 7.3 February 2009
Iron Man(C) Panamax 72,861 1997 9.7 March 2010
Coal Age(C) Panamax 72,861 1997 9.7 September 2007
Fearless 1(C) Panamax 73,427 1997 9.9 March 2008
Barbara(D) Panamax 73,390 1997 10.1 July 2007
Linda Leah(D) Panamax 73,390 1997 10.1 February 2008
King Coal Panamax 72,873 1997 10.2 March 2008
Coal Glory(C) Panamax 73,670 1995 12.1 June 2008
Total Current
Fleet 27 Vessels 2,391,581 3.8
years
avg (F)
FLEET TO BE Type DWT Year Age Delivery Range
DELIVERED Built (in years)
Lowlands Beilun Capesize 170,162 1999 7.9 April 07
Iron Manolis Kamsarmax 82,300 * April 07
Total Fleet
to be Delivered 2 Vessels 252,462
TOTAL FLEET 29 Vessels 2,644,043 3.9
years
avg (F)
* Under Construction
(A), (B), (C) and (D) indicate sister ships. As of March 21, 2007 Quintana
had four sets of sister ships, including the vessels recently acquired from
Metrobulk. All seventeen ships that are part of the Metrobulk acquisition
are sister ships. Sister ships indicate vessels of the same class made in
the same shipyard. The sister-ship concept further enhances our operational
flexibility and efficiency.
(E) On a dwt weighted average
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 27 vessels, including 13 Kamsarmax bulkers, 11
Panamax size vessels and 3 Capesize vessels with a total carrying capacity
of 2,391,581 dwt and an average age of 3.8 years on a dwt weighted average.
It has also entered into agreement to acquire an additional Kamsarmax
bulker with expected delivery in April 2007 and with an aggregate capacity
of 82,300 dwt. In addition, Quintana has agreed to acquire an additional
Capesize vessel with 170,162 dwt cargo capacity with expected delivery in
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 2,644,043 dwt and an
average age of 3.9 years on a dwt weighted average.
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.
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