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Quintana Maritime Limited ("Quintana") announced that it has entered into a time charter agreement for the M/V "Coal Glory" and has extended the time charter agreement for the M/V "Barbara". "Coal Glory" has entered into a time charter agreement with Cosco Bulk Carriers Ltd. for a minimum period of twenty-three months and a maximum period of twenty-five months at a daily rate of USD $15,800 per day. "Coal Glory" will be delivered to Cosco under the new time charter in early July. “Coal Glory” is a Panamax bulk carrier built in 1995 with a carrying capacity of 73,670 dwt.
According to the purchase contract signed by China Merchants Qingdao Container Terminal, the manufacturing of 4 sets of quay cranes and 10 sets of RTG for Berth #1 of the Terminal are going on smoothly. In the meantime, the first quay crane is being integrated while the other 3 are in the process of part assembling. Moreover, the main components of the 10 sets of RTG, scheduled to deliver in September and October this year, are in the making. Source: Press release
Creates One of Largest and Most Modern Fleets Among its U.S. Listed PeersCompany has time charter coverage on acquired vessels through 2010 Quintana Maritime Limited ("Quintana") (NASDAQ: QMAR) announced today that it has agreed to acquire seventeen vessels from Metrobulk, a privately owned Greek shipowner for an aggregate purchase price of approximately $735 million. The acquisition will be funded with approximately $191 million of proceeds from a private placement, which was led by Dahlman Rose & Co. and closed on May 11, 2006, and the balance with a proposed new credit facility led by Fortis Bank. The vessel acquisition was mediated and advised by Fortis Bank.
Hupac is systematically adapting its wagon fleet to meet noise abatement requirements. 65% of wagons for UCT and 100% of Rola wagons are fitted with low-noise brakes made with synthetic materials. Hupac is therefore on course to meet the Swiss federal law on noise remediation which envisages the modification of all wagons by the end of 2009. The noise limits set in the international TSI Noise standards, which come into force for all new vehicles from the middle of 2006, were implemented by Hupac several years ago.
