Quintana Takes Delivery of Bulk Carrier

Thursday, March 15, 2007
Quintana Maritime Limited took delivery of Iron Miner, a newbuilding Capesize bulk carrier of 177,000 deadweight tons (dwt) from Shanghai Waigaoqiao Shipbuilding Co., a Capesize specialist yard in China. As previously announced the purchase price of the vessel is approximately $92.5 million and has been funded with borrowings under its credit facility and cash on hand, including from the proceeds from the exercise of warrants. Iron Miner is employed under a five-year time charter at a net daily rate of $40,000 with Transfield, a major operator in the Capesize sector. With the delivery of the Iron Miner, the Company has secured approximately 96.2% of its net operating days under time charter contracts for 2007 and 80.9% for 2008, which the Company expects to generate aggregate net revenues of approximately $420 million over 2007 and 2008.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0559 sec (18 req/sec)