QUINTANA MARITIME

Quintana Maritime Limited is an international provider of drybulk marine transportation services through the ownership and operation of dry-bulk vessels. They focus on larger size Panamax vessels. Our objective is to transport iron ore, coal, grain and other valuable commodities -- safely and efficiently. They were incorporated in the Marshall Islands on January 13, 2005 and began operations on April 12, 2005. They were formed by affiliates of each of Corbin J. Robertson, Jr., First Rese... rve Corporation ("First Reserve"), and American Metals & Coal International, Inc. ("AMCI"). On July 14th, 2005 they became a publicly listed company. Our shares trade on the NASDAQ National Market under the symbol "QMAR". As of August 2005, they own and operate a total fleet of 8 Panamax drybulk carriers with a total carrying capacity of 585,072 dwt and average fleet age of 8 years. Our business strategy is to secure long term employment for our vessels under long term period time charters with established and reputable charterers. Our management team provides the commercial management of our fleet, which includes entering into charters and managing relationships with charterers. Initially, they outsourced the technical management, which includes day-to-day operations, of five of our vessels to Blossom Maritime Corporation, an unaffiliated third-party ship management company. However, before the end of 2005, they will take this function in house, thereby performing the technical -as well as the commercial- management of our entire fleet.More