Quintana Maritime Purchase 4 Capesize Newbuildings

Quintana Maritime Limited Further Expands Presence into Capesize Sector By Agreeing to Purchase 4 Capesize Newbuildings and Secures Two Charters for Five Years with EDF Trading .

Quintana Maritime Limited (NASDAQ: QMAR) announced today that it has agreed to purchase four 180,000 deadweight-ton (dwt) Capesize vessels, through a joint venture with AMCI Cape Holdings LLC (“AMCIC”), an affiliate of Hans Mende, who is a member of Quintana’s Board of Directors. The vessels are being built at Korea Shipyard Co., Ltd., a new South Korean shipyard, with delivery expected from May to August of 2010. The contract cost of the four vessels is $310.8 million.