Excel Maritime Carriers Ltd. (Excel) is a provider of worldwide sea borne transportation services for dry bulk cargo, including among others, iron ore, coal and grain, collectively referred to as major bulks, and steel products, fertilizers, cement, bauxite, sugar and scrap metal, collectively referred to as minor bulks. Excel’s fleet is managed by one of its wholly owned subsidiaries, Maryville Maritime Inc. (Maryville). As of April 27, 2009, the Company owned a fleet of 40 vessels, and together with seven Panamax vessels under bareboat charters, operates 47 vessels, five Capesize, 14 Kamsarmax, 21 Panamax, two Supramax and five Handymax, with a total carrying capacity of approximately 3.9 million deadweight tons (dwt). On April 15, 2008, the Company completed its acquisition of Quintana Maritime Limited (Quintana). As a result of the acquisition, Quintana operates as a wholly owned subsidiary of Excel under the name Bird.