Quintana takes delivery of Coal Gypsy

The Greek shipping company Quintana Maritime has taken delivery of a Kamsarmax bulk carrier ?Coal Gypsy? from Tsuneishi Shipbuilding in Japan. The 82,300 dwt newbuilding is the ninth of fourteen Kamsarmax vessels the company has agreed to acquire from Metrobulk.

Quintana Maritime has to date taken delivery of eleven vessels out of the total of seventeen vessels from Metrobulk. ?Coal Gypsy? is employed under a master time charter with Bunge S.A. for 2007 and is employed, together with eight other vessels, at an average daily rate of approximately $23,000 per day. Quintana Maritime has fixed the rates for all seventeen vessels it has acquired or has agreed to acquire from Metrobulk.

The master charter agreement with Bunge calls for annual renewals in early November every year, between floor and ceiling rates, and lasts through the end of 2010. Quintana is also on schedule to take delivery of an additional three ships by year end, thus further expanding its fleet and making Quintana one of the largest dry bulk carriers.