Quintana Maritime Limited took delivery of its second Capesize bulk carrier on November 11. The vessel, named Kirmar, was built in 2001 by China Shipbuilding Corporation
in Taiwan and has a carrying capacity of 165,500 dwt.
The purchase price of the vessel was approximately $68.4 million, of which Quintana had previously advanced the sellers a cash deposit of $6.85 million, or 10% of the aggregate purchase price of the vessel. On delivery, the Company paid $9.6 million in cash, and the balance of $52.0 million was funded through its revolving credit facility.