Quintana Maritime Limited Acquire a Newbuilding Capesize Bulk Carrier

Quintana Maritime Limited (NASDAQ: QMAR), a leading international provider of dry bulk transportation services, announced today that it has agreed to acquire a newbuilding Capesize bulk carrier of 180,000 deadweight tons (dwt). The vessel will be constructed by Imabari Shipbuilding Co., Ltd., the largest shipyard in Japan, with expected delivery during the fourth quarter of 2008.