Quintana Maritime Explores Strategic Alternatives

Quintana Maritime Limited announced that its Board of Directors, after a series of discussions, has decided to evaluate strategic alternatives in order to enhance shareholder value. The Board has retained Citi and Dahlman Rose to advise it during its deliberations.

Mr. Corbin J. Robertson, Jr., Chairman of the Company, stated that: "The Board, in light of the significant increases in asset values experienced in the drybulk shipping industry during the past year, has concluded that it is appropriate at this time to explore ways to enhance the Company's value for its shareholders."